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 Investar Holding, a filing with the SEC revealed that on Friday, Director Scott G. Ginn purchased 8,475 shares of ISTR, for a cost of $23.68 each, for a total investment of $200,688. Ginn was up about 3.6% on the buy at the high point of today's trading session, with ISTR trading as high as $24.52 in trading on Wednesday. Investar Holding is trading off about 0.4% on the day Wednesday.
And at OPKO Health, there was insider buying on Friday, by CEO & Chairman Phillip Frost, M.D et. al. who purchased 100,000 shares for a cost of $1.59 each, for a total investment of $159,000. Before this latest buy, Frost purchased OPK at 13 other times during the past year, for a total investment of $8.92M at an average of $0.98 per share. OPKO Health is trading up about 1% on the day Wednesday.
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