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 Mobileye Global, a filing with the SEC revealed that on Monday, Director Patrick P. Gelsinger purchased 6,750 shares of MBLY, for a cost of $14.94 each, for a total investment of $100,848. So far Gelsinger is in the green, up about 11.1% on their purchase based on today's trading high of $16.60. Mobileye Global Inc is trading down about 1.2% on the day Friday. Before this latest buy, Gelsinger bought MBLY at 2 other times during the past year, for a total investment of $200,354 at an average of $27.78 per share.
And at Sturm, Ruger, there was insider buying on Wednesday, by Director Terrence Gregory Oconnor who bought 2,500 shares at a cost of $39.88 each, for a trade totaling $99,700. This purchase marks the first one filed by Oconnor in the past year. Sturm, Ruger is trading off about 0.4% on the day Friday. So far Oconnor is in the green, up about 2.9% on their purchase based on today's trading high of $41.05.
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