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 Radian Group, a filing with the SEC revealed that on Tuesday, Chief Executive Officer- Elect Michael S. Weinbach purchased 170,000 shares of RDN, for a cost of $33.93 each, for a total investment of $5.77M. Radian Group is trading down about 0.7% on the day Wednesday. This buy marks the first one filed by Weinbach in the past year.
And on Monday, CEO & President R. David Banyard bought $505,800 worth of MasterBrand, buying 60,000 shares at a cost of $8.43 a piece. MasterBrand is trading off about 0.1% on the day Wednesday.
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