As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Telos, a filing with the SEC revealed that on Thursday, Director John W. Maluda purchased 441 shares of TLS, for a cost of $7497.00 each, for a total investment of $3.31M. Investors can snag TLS at a price even lower than Maluda did, with shares trading as low as $19.50 at last check today which is 99.7% under Maluda's purchase price. Telos is trading up about 6.1% on the day Monday. This buy marks the first one filed by Maluda in the past twelve months.
And on Friday, Director Matthew Kaness bought $190,960 worth of Flexsteel Industries, buying 7,000 shares at a cost of $27.28 each. Before this latest buy, Kaness bought FLXS on 3 other occasions during the past twelve months, for a total cost of $342,290 at an average of $14.88 per share. Flexsteel Industries, is trading up about 6.7% on the day Monday. Investors are able to grab FLXS even cheaper than Kaness did, with the stock changing hands as low as $25.88 in trading on Monday which is 5.1% under Kaness's purchase price.
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