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 Conagra Brands, a filing with the SEC revealed that on Tuesday, John J. Mulligan bought 17,500 shares of CAG, at a cost of $14.31 each, for a total investment of $250,402. Mulligan was up about 1.8% on the buy at the high point of today's trading session, with CAG trading as high as $14.57 in trading on Thursday. Conagra Brands is trading up about 3.3% on the day Thursday. This buy marks the first one filed by Mulligan in the past twelve months.
And also on Tuesday, CEO Robert A. Virtue purchased $16,794 worth of Virco Manufacturing, purchasing 2,700 shares at a cost of $6.22 each. Before this latest buy, Virtue bought VIRC on 4 other occasions during the past year, for a total cost of $85,116 at an average of $6.65 per share. Virco Manufacturing is trading up about 1.3% on the day Thursday.
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