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 Monday, CNX Resources', Bernard Lanigan Jr., made a $3.67M purchase of CNX, buying 172,830 shares at a cost of $21.25 each. So far Lanigan Jr. is in the green, up about 4.8% on their buy based on today's trading high of $22.27. CNX Resources is trading up about 1.5% on the day Wednesday. Before this latest buy, Lanigan Jr. made one other purchase in the past twelve months, buying $2.10M shares at a cost of $15.24 a piece.
And on Friday, SVP, Chief Financial Officer Sravan Kumar Emany purchased $300,119 worth of Ironwood Pharmaceuticals, purchasing 36,072 shares at a cost of $8.32 a piece. This buy marks the first one filed by Emany in the past year. Ironwood Pharmaceuticals is trading up about 0.4% on the day Wednesday. So far Emany is in the green, up about 12.5% on their purchase based on today's trading high of $9.36.
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