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 Friday, United Continental Holdings' CFO, Andrew C. Levy, made a $764,392 buy of UAL, purchasing 15,000 shares at a cost of $50.96 a piece. Levy was up about 6.5% on the purchase at the high point of today's trading session, with UAL trading as high as $54.26 at last check today. United Continental Holdings is trading up about 5.4% on the day Wednesday. This buy marks the first one filed by Levy in the past year.
And at State Auto Financial, there was insider buying on Friday, by Senior Vice President Kim Burton Garland who bought 6,356 shares for a cost of $23.63 each, for a total investment of $150,192. Before this latest buy, Garland purchased STFC on 7 other occasions during the past twelve months, for a total investment of $616,542 at an average of $20.95 per share. State Auto Financial is trading up about 0.2% on the day Wednesday. So far Garland is in the green, up about 1.5% on their purchase based on today's trading high of $23.98.
For MarketNewsVideo.com, I'm Sayoko Murase.