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.
On Tuesday, Novavax's Director, Gail Boudreaux, made a $144,850 purchase of NVAX, buying 100,000 shares at a cost of $1.45 a piece. Boudreaux was up about 55.3% on the purchase at the high point of today's trading session, with NVAX trading as high as $2.25 at last check today. Novavax is trading up about 9.8% on the day Thursday.
And at Liberty Tax, there was insider buying on Monday, by Director Robert M. Howard who bought 10,000 shares for a cost of $12.66 each, for a total investment of $126,589. Before this latest buy, Howard bought TAX on 8 other occasions during the past twelve months, for a total cost of $898,477 at an average of $17.97 per share. Liberty Tax is trading up about 0.9% on the day Thursday. So far Howard is in the green, up about 1.9% on their purchase based on today's trading high of $12.90.
For MarketNewsVideo.com, I'm Sayoko Murase.