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, Helmerich & Payne's SENIOR VP AND CFO, J. Kevin Vann, made a $99,627 buy of HP, purchasing 3,300 shares at a cost of $30.19 each. So far Vann is in the green, up about 7.9% on their purchase based on today's trading high of $32.59. Helmerich & Payne is trading up about 0.3% on the day Wednesday. This purchase marks the first one filed by Vann in the past year.
And at First Trust High Yield Opportunities 2027 Term Fund, there was insider buying on Monday, by Director James A. Bowen who bought 4,370 shares for a cost of $15.20 each, for a total investment of $66,424. Before this latest buy, Bowen purchased FTHY on 5 other occasions during the past twelve months, for a total investment of $1.67M at an average of $14.49 per share. First Trust High Yield Opportunities 2027 Term Fund is trading off about 0.1% on the day Wednesday. Investors can grab FTHY even cheaper than Bowen did, with shares trading as low as $14.96 at last check today which is 1.6% below Bowen's purchase price.
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