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 Monday, Petco Health & Wellness' Chief Executive Officer, Joel D. Anderson, made a $4.72M purchase of WOOF, buying 1,586,088 shares at a cost of $2.97 each. Anderson was up about 17.0% on the purchase at the high point of today's trading session, with WOOF trading as high as $3.48 at last check today. Petco Health & Wellness is trading up about 12.3% on the day Wednesday.
And on Friday, George Whitney purchased $1.46M worth of Sprott Focus Trust, purchasing 200,137 shares at a cost of $7.30 each. Before this latest buy, George made one other purchase in the past year, buying $2.35M shares for a cost of $7.27 a piece. Sprott Focus Trust is trading down about 0.9% on the day Wednesday.
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