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 Friday, Advanced Energy Industries (NASDAQ:AEIS)'s CEO, Stephen Douglas Kelley, made a $502,222 purchase of AEIS, buying 5,850 shares at a cost of $85.85 each. Advanced Energy Industries is trading up about 2.8% on the day Wednesday. Before this latest buy, Kelley made one other purchase in the past year, buying $497,250 shares at a cost of $85.00 a piece.
And on Tuesday, CEO B. Riley Securities, Inc. Andrew Moore bought $318,500 worth of B. Riley Financial (NASDAQ:RILY), buying 5,000 shares at a cost of $63.70 each. Before this latest buy, Moore made one other purchase in the past twelve months, buying $338,424 shares for a cost of $67.68 each. B. Riley Financial is trading up about 1.3% on the day Wednesday. Moore was up about 2.7% on the purchase at the high point of today's trading session, with RILY trading as high as $65.41 in trading on Wednesday.
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