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 PENN Entertainment, a filing with the SEC revealed that on Tuesday, CEO Jay A. Snowden purchased 54,200 shares of PENN, at a cost of $18.44 each, for a total investment of $999,448. PENN Entertainment is trading up about 4.4% on the day Wednesday.
And also on Tuesday, Kathleen A. Gilmartin bought $172,180 worth of U.S. Physical Therapy, buying 2,000 shares at a cost of $86.09 each. Before this latest buy, Gilmartin made one other purchase in the past twelve months, buying $82,340 shares at a cost of $82.34 a piece. U.S. Physical Therapy is trading up about 0.8% on the day Wednesday. Gilmartin was up about 1.4% on the purchase at the high point of today's trading session, with USPH trading as high as $87.26 in trading on Wednesday.
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