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 Hall Of Fame Resort & Entertainment, a filing with the SEC revealed that on Friday, CEO Michael Anthony Crawford purchased 40,000 shares of HOFV, at a cost of $2.45 each, for a total investment of $98,000. Crawford was up about 16.3% on the buy at the high point of today's trading session, with HOFV trading as high as $2.85 in trading on Tuesday. Hall Of Fame Resort & Entertainment is trading up about 8.7% on the day Tuesday. Before this latest buy, Crawford bought HOFV on 4 other occasions during the past year, for a total investment of $245,960 at an average of $2.54 per share.
And at Kemper, there was insider buying on Friday, by Director George N. Cochran who bought 500 shares at a cost of $76.00 each, for a total investment of $38,000. Before this latest buy, Cochran made one other buy in the past year, purchasing $32,475 shares for a cost of $64.95 a piece. Kemper is trading down about 2.3% on the day Tuesday.
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