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.
On Wednesday, Greenbrier Companies' CEO, William A. Furman, made a $2.18M purchase of GBX, buying 50,000 shares at a cost of $43.57 a piece. Furman was up about 7.0% on the purchase at the high point of today's trading session, with GBX trading as high as $46.61 at last check today. Greenbrier Companies is trading up about 6.9% on the day Friday. This purchase marks the first one filed by Furman in the past twelve months.
And at Power REIT, there was insider buying on Wednesday, by Director Patrick R. Haynes III who purchased 11,507 shares at a cost of $26.50 each, for a total investment of $304,936. This purchase marks the first one filed by Haynes III in the past year. Power REIT is trading up about 1.9% on the day Friday. So far Haynes III is in the green, up about 39.8% on their purchase based on today's trading high of $37.05.
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