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 Aaron's, a filing with the SEC revealed that on Friday, Director Robert H. Yanker bought 40,000 shares of AAN, for a cost of $25.29 each, for a total investment of $1.01M. Yanker was up about 1.0% on the purchase at the high point of today's trading session, with AAN trading as high as $25.55 in trading on Wednesday. Aaron's is trading up about 1.1% on the day Wednesday. This purchase marks the first one filed by Yanker in the past year.
And at Beazer Homes USA, there was insider buying on Monday, by Director Stephen P. Zelnak Jr. who bought 22,518 shares at a cost of $10.08 each, for a trade totaling $226,981. Before this latest buy, Zelnak Jr. bought BZH on 3 other occasions during the past twelve months, for a total investment of $1.19M at an average of $7.96 per share. Beazer Homes USA is trading up about 0.4% on the day Wednesday. Zelnak Jr. was up about 8.7% on the purchase at the high point of today's trading session, with BZH trading as high as $10.96 in trading on Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.