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 Friday, Director Samuel Laing Hinson III purchased 4,802 shares of BHRB, for a cost of $55.00 each, for a total investment of $264,110. So far Hinson III is in the green, up about 3.8% on their buy based on today's trading high of $57.10. Burke Herbert Financial Services is trading down about 0.5% on the day Wednesday. Before this latest buy, Hinson III made one other buy in the past year, purchasing $212,000 shares for a cost of $53.00 a piece.
And at Xerox Holdings, there was insider buying on Friday, by A. Scott Letier who purchased 25,000 shares at a cost of $4.43 each, for a total investment of $110,750. This buy marks the first one filed by Letier in the past year. Xerox Holdings is trading off about 0.3% on the day Wednesday. Letier was up about 12.9% on the buy at the high point of today's trading session, with XRX trading as high as $5.00 at last check today.
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