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 Thursday, Wheels Up Experience's Director, David J. Adelman, made a $648,825 buy of UP, purchasing 250,000 shares at a cost of $2.60 a piece. Wheels Up Experience Inc is trading up about 0.4% on the day Monday. Before this latest buy, Adelman bought UP at 4 other times during the past twelve months, for a total investment of $3.02M at an average of $5.03 per share.
And on Wednesday, CEO Kevin P. Riley purchased $593,530 worth of First Interstate BancSystem, purchasing 15,899 shares at a cost of $37.33 a piece. Before this latest buy, Riley made one other buy in the past twelve months, purchasing $113,442 shares for a cost of $39.39 each. First Interstate BancSystem is trading trading flat on the day Monday. Riley was up about 3.7% on the buy at the high point of today's trading session, with FIBK trading as high as $38.71 at last check today.
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