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 WisdomTree Investments, a filing with the SEC revealed that on Friday, Chief Executive Officer Jonathan L. Steinberg purchased 250,000 shares of WETF, for a cost of $10.16 each, for a total investment of $2.54M. Steinberg was up about 2.9% on the buy at the high point of today's trading session, with WETF trading as high as $10.46 in trading on Tuesday. WisdomTree Investments is trading up about 1.7% on the day Tuesday. Before this latest buy, Steinberg made one other buy in the past twelve months, purchasing $2.15M shares for a cost of $10.74 each.
And also on Friday, CEO John B. Douglas Jr. purchased $254,300 worth of Computer Programs & Systems, purchasing 10,000 shares at a cost of $25.43 a piece. Before this latest buy, Douglas Jr. made one other purchase in the past year, buying $146,930 shares at a cost of $41.98 a piece. Computer Programs & Systems is trading up about 1.1% on the day Tuesday. Douglas Jr. was up about 3.7% on the purchase at the high point of today's trading session, with CPSI trading as high as $26.36 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.