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 Coty, a filing with the SEC revealed that on Thursday, Director Robert S. Singer bought 20,000 shares of COTY, at a cost of $16.30 each, for a total investment of $325,982. Coty is trading up about 2.7% on the day Tuesday. This buy marks the first one filed by Singer in the past twelve months.
And at Fossil Group, there was insider buying on Friday, by Director James M. Zimmerman who purchased 36,000 shares for a cost of $8.30 each, for a total investment of $298,818. Fossil Group is trading down about 1% on the day Tuesday. Zimmerman was up about 7.8% on the purchase at the high point of today's trading session, with FOSL trading as high as $8.95 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.