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 Voxx International, a filing with the SEC revealed that on Friday, Steven R. Downing bought 1,570,000 shares of VOXX, at a cost of $10.00 each, for a total investment of $15.7M. Bargain hunters can buy VOXX even cheaper than Downing did, with the stock changing hands as low as $8.50 at last check today which is 15.0% under Downing's purchase price. Voxx International is trading up about 23.2% on the day Wednesday. Before this latest buy, Downing purchased VOXX on 2 other occasions during the past year, for a total investment of $284,750 at an average of $8.14 per share.
And at Conagra Brands, there was insider buying on Monday, by Director Richard H. Lenny who purchased 9,238 shares at a cost of $27.31 each, for a trade totaling $252,290. Conagra Brands is trading up about 0.9% on the day Wednesday. So far Lenny is in the green, up about 1.8% on their buy based on today's trading high of $27.80.
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