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, SuRo Capital's Chairman, CEO and President, Mark D. Klein, made a $417,611 buy of SSSS, purchasing 81,257 shares at a cost of $5.14 a piece. So far Klein is in the green, up about 7.0% on their purchase based on today's trading high of $5.50. SuRo Capital is trading up about 3% on the day Monday. Before this latest buy, Klein made one other purchase in the past twelve months, buying $46,080 shares for a cost of $3.84 a piece.
And on Wednesday, CEO Franco Fogliato purchased $359,159 worth of Fossil Group, purchasing 250,000 shares at a cost of $1.44 a piece. This purchase marks the first one filed by Fogliato in the past year. Fossil Group is trading up about 50% on the day Monday. So far Fogliato is in the green, up about 81.7% on their purchase based on today's trading high of $2.61.
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