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 United Natural Foods, a filing with the SEC revealed that on Friday, Chief Executive Officer J. Alexander Douglas Jr. bought 45,168 shares of UNFI, for a cost of $22.22 each, for a total investment of $1.00M. So far Douglas Jr. is in the green, up about 10.2% on their purchase based on today's trading high of $24.48. United Natural Foods is trading up about 6.2% on the day Monday. Before this latest buy, Douglas Jr. made one other purchase in the past twelve months, buying $99,629 shares for a cost of $33.98 each.
And on Wednesday, Director Alan David Matula bought $252,034 worth of American Equity Investment Life Holding, buying 7,100 shares at a cost of $35.50 a piece. American Equity Investment Life Holding is trading up about 2.2% on the day Monday. Matula was up about 3.2% on the buy at the high point of today's trading session, with AEL trading as high as $36.64 at last check today.
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