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, VFC's Director, Richard Carucci, made a $310,620 purchase of VFC, buying 20,000 shares at a cost of $15.53 each. Carucci was up about 5.5% on the purchase at the high point of today's trading session, with VFC trading as high as $16.39 at last check today. VFC is trading up about 1.1% on the day Wednesday. Before this latest buy, Carucci made one other buy in the past twelve months, purchasing $763,644 shares for a cost of $19.09 each.
And also on Monday, Franklin Myers bought $246,369 worth of HF Sinclair, buying 4,180 shares at a cost of $58.94 a piece. Before this latest buy, Myers made one other buy in the past twelve months, purchasing $273,950 shares for a cost of $54.79 each. HF Sinclair is trading off about 6.2% on the day Wednesday. Bargain hunters can buy DINO even cheaper than Myers did, with shares changing hands as low as $54.73 in trading on Wednesday which is 7.2% under Myers's purchase price.
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