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 Tuesday, Home BancShares' CEO, John W. Allison, made a $307,585 buy of HOMB, purchasing 10,000 shares at a cost of $30.76 each. Investors have the opportunity to bag HOMB even cheaper than Allison did, with the stock trading as low as $29.93 at last check today which is 2.7% below Allison's purchase price. Home BancShares is trading up about 1.3% on the day Thursday. Before this latest buy, Allison made one other purchase in the past twelve months, buying $454,824 shares for a cost of $22.74 each.
And at Retractable Technologies, there was insider buying on Wednesday, by PRESIDENT AND CEO Thomas J. Shaw who purchased 29,112 shares for a cost of $0.78 each, for a trade totaling $22,774. Before this latest buy, Shaw bought RVP at 70 other times during the past twelve months, for a total investment of $736,172 at an average of $0.93 per share. Retractable Technologies is trading up about 2.4% on the day Thursday.
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