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 R1 RCM, a filing with the SEC revealed that on Tuesday, Chief Executive Officer Lee Rivas bought 71,767 shares of RCM, for a cost of $13.93 each, for a total investment of $1.00M. So far Rivas is in the green, up about 12.0% on their purchase based on today's trading high of $15.60. R1 RCM is trading up about 6.3% on the day Wednesday. This purchase marks the first one filed by Rivas in the past twelve months.
And on Friday, Director Brian T. Shea purchased $158,056 worth of Fidelity National Information Services, purchasing 2,300 shares at a cost of $68.72 a piece. This purchase marks the first one filed by Shea in the past year. Fidelity National Information Services is trading up about 1% on the day Wednesday. Bargain hunters can pick up FIS at a price even lower than Shea did, with shares changing hands as low as $67.47 at last check today -- that's 1.8% under Shea's purchase price.
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