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 Somnigroup International, a filing with the SEC revealed that on Tuesday, Director Simon Dyer bought 32,000 shares of SGI, for a cost of $93.40 each, for a total investment of $2.99M. Bargain hunters can snag SGI even cheaper than Dyer did, with shares trading as low as $90.93 at last check today which is 2.6% under Dyer's purchase price. Somnigroup International is trading up about 2.3% on the day Friday. This buy marks the first one filed by Dyer in the past year.
And at Target Hospitality, there was insider buying on Wednesday, by Stephen Robertson who bought 125,000 shares for a cost of $7.94 each, for a trade totaling $992,500. Before this latest buy, Robertson made one other purchase in the past twelve months, buying $993,250 shares for a cost of $6.85 each. Target Hospitality is trading up about 5.7% on the day Friday.
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