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 Fluor Corp. (NYSE:FLR), a filing with the SEC revealed that on Wednesday, Director James T. Hackett purchased 40,000 shares of FLR, for a cost of $25.55 each, for a total investment of $1.02M. Hackett was up about 8.5% on the purchase at the high point of today's trading session, with FLR trading as high as $27.72 at last check today. Fluor Corp. is trading up about 4.9% on the day Friday. This buy marks the first one filed by Hackett in the past year.
And also on Wednesday, CEO John B. Wood bought $871,250 worth of Telos Corp. (NASDAQ:TLS), buying 125,000 shares at a cost of $6.97 a piece. Before this latest buy, Wood made one other buy in the past year, purchasing $1.81M shares at a cost of $18.14 each. Telos Corp. is trading up about 5.4% on the day Friday. So far Wood is in the green, up about 12.6% on their buy based on today's trading high of $7.85.
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