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 Tenneco, a filing with the SEC revealed that on Wednesday, Director Dennis J. Letham purchased 32,300 shares of TEN, at a cost of $13.96 each, for a total investment of $450,908. Tenneco Inc is trading up about 6.2% on the day Monday.
And on Friday, CEO B. Riley Securities, Andrew Moore purchased $301,000 worth of B. Riley Financial, purchasing 5,000 shares at a cost of $60.20 each. Before this latest buy, Moore purchased RILY on 2 other occasions during the past twelve months, for a total investment of $656,924 at an average of $65.69 per share. B. Riley Financial is trading off about 1.2% on the day Monday.
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