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 one noteworthy recent insider buy.
On Wednesday, B. Riley Financial's President, Kenneth M. Young, made a $73,600 purchase of RILY, buying 1,600 shares at a cost of $46.00 each. Young was up about 12.2% on the purchase at the high point of today's trading session, with RILY trading as high as $51.62 in trading on Wednesday. B. Riley Financial is trading up about 8% on the day Wednesday. Before this latest buy, Young bought RILY at 2 other times during the past twelve months, for a total cost of $98,105 at an average of $21.80 per share.
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