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 Custom Truck One Source, a filing with the SEC revealed that on Thursday, Director Mark Ein bought 1,000,000 shares of CTOS, for a cost of $5.00 each, for a total investment of $5M. So far Ein is in the green, up about 94.8% on their buy based on today's trading high of $9.74. Custom Truck One Source is trading up about 4.6% on the day Tuesday. This buy marks the first one filed by Ein in the past year.
And at HireQuest, there was insider buying on Thursday, by Lawrence F. Hagenbuch who bought 4,500 shares for a cost of $17.22 each, for a total investment of $77,490. Before this latest buy, Hagenbuch bought HQI on 2 other occasions during the past year, for a total investment of $121,133 at an average of $7.38 per share. HireQuest is trading trading flat on the day Tuesday. Hagenbuch was up about 8.9% on the buy at the high point of today's trading session, with HQI trading as high as $18.75 at last check today.
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