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 BrightView Holdings, a filing with the SEC revealed that on Thursday, William L. Cornog bought 50,000 shares of BV, for a cost of $11.25 each, for a total investment of $562,400. So far Cornog is in the green, up about 2.9% on their purchase based on today's trading high of $11.57. BrightView Holdings is trading down about 0.8% on the day Monday. Before this latest buy, Cornog purchased BV on 2 other occasions during the past twelve months, for a total investment of $195,700 at an average of $13.05 per share.
And on Friday, Chief Financial Officer James Paul Rickey purchased $499,986 worth of Braveheart Bio, purchasing 27,777 shares at a cost of $18.00 a piece. This buy marks the first one filed by Rickey in the past year. BRVE is trading down about 3.1% on the day Monday. So far Rickey is in the green, up about 77.8% on their buy based on today's trading high of $32.00.
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