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 Superior Energy Services, a filing with the SEC revealed that on Thursday, CEO David D. Dunlap bought 30,000 shares of SPN, for a cost of $10.89 each, for a total investment of $326,700. Superior Energy Services is trading down about 0.4% on the day Friday. Before this latest buy, Dunlap made one other buy in the past twelve months, purchasing $551,700 shares at a cost of $12.26 a piece.
And at Werner Enterprises, there was insider buying on Tuesday, by Director Diane K. Duren who purchased 7,000 shares at a cost of $36.19 each, for a trade totaling $253,330. This purchase marks the first one filed by Duren in the past year. Werner Enterprises, is trading up about 2.9% on the day Friday. Investors can bag WERN at a price even lower than Duren did, with the stock changing hands as low as $34.27 in trading on Friday which is 5.3% below Duren's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.