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 CapStar Financial Holdings, a filing with the SEC revealed that on Monday, Chief Financial Officer Denis J. Duncan bought 9,640 shares of CSTR, for a cost of $21.13 each, for a total investment of $203,693. So far Duncan is in the green, up about 4.1% on their buy based on today's trading high of $22.00. CapStar Financial Holdings is trading up about 0.6% on the day Wednesday. Before this latest buy, Duncan bought CSTR at 3 other times during the past year, for a total cost of $680,027 at an average of $15.18 per share.
And at Pactiv Evergreen, there was insider buying on Monday, by CEO Michael Jack King who bought 10,000 shares at a cost of $15.41 each, for a trade totaling $154,111. Pactiv Evergreen Inc is trading trading flat on the day Wednesday.
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