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 Friday, Selective Insurance Group's Director, Terrence W. Cavanaugh, made a $98,470 purchase of SIGI, buying 1,000 shares at a cost of $98.47 each. Selective Insurance Group is trading down about 1.1% on the day Monday.
And also on Friday, Director Teddy Ray Price bought $49,237 worth of Red River Bancshares, buying 908 shares at a cost of $54.23 each. Before this latest buy, Price bought RRBI at 5 other times during the past twelve months, for a total investment of $125,402 at an average of $47.88 per share. Red River Bancshares is trading off about 0.2% on the day Monday. Investors are able to snag RRBI at a price even lower than Price did, with the stock trading as low as $51.53 at last check today -- that's 5.0% under Price's purchase price.
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