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, Byline Bancorp's, Antonio Del Valle Perochena, made a $206,776 purchase of BY, buying 10,000 shares at a cost of $20.68 a piece. Del was up about 3.1% on the buy at the high point of today's trading session, with BY trading as high as $21.31 in trading on Tuesday. Byline Bancorp is trading up about 2% on the day Tuesday. Before this latest buy, Perochena bought BY at 9 other times during the past year, for a total investment of $3.6M at an average of $20.04 per share.
And at ONEOK, there was insider buying on Friday, by Director Wayne Thomas Smith who purchased 2,700 shares at a cost of $75.25 each, for a total investment of $203,175. ONEOK Inc is trading up about 1.9% on the day Tuesday. So far Smith is in the green, up about 3.8% on their buy based on today's trading high of $78.08.
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