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 Burke Herbert Financial Services, a filing with the SEC revealed that on Thursday, Director Julian Forrest Barnwell Jr. purchased 5,000 shares of BHRB, for a cost of $63.75 each, for a total investment of $318,736. Barnwell Jr. was up about 2.6% on the purchase at the high point of today's trading session, with BHRB trading as high as $65.44 in trading on Friday. Burke Herbert Financial Services is trading up about 2% on the day Friday. Before this latest buy, Barnwell Jr. bought BHRB on 4 other occasions during the past year, for a total investment of $609,508 at an average of $55.41 per share.
And at Unifi, there was insider buying on Tuesday, by Kenneth G. Langone who bought 34,097 shares for a cost of $5.49 each, for a trade totaling $187,078. Unifi is trading up about 2.5% on the day Friday. Langone was up about 5.5% on the purchase at the high point of today's trading session, with UFI trading as high as $5.79 in trading on Friday.
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