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 Wednesday, Avis Budget Group's Executive Chairman, Bernardo Hees, made a $4.94M buy of CAR, purchasing 26,000 shares at a cost of $189.90 a piece. Bargain hunters are able to pick up CAR at a price even lower than Hees did, with the stock trading as low as $176.89 at last check today which is 6.9% below Hees's purchase price. Avis Budget Group is trading up about 1.4% on the day Monday. This buy marks the first one filed by Hees in the past twelve months.
And on Friday, Director Avid Modjtabai bought $1.78M worth of Prologis, buying 15,000 shares at a cost of $118.65 a piece. Prologis is trading down about 1.1% on the day Monday.
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