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 Wednesday, Lowe's Companies' EVP, Supply Chain, Donald Frieson, made a $200,342 purchase of LOW, buying 2,030 shares at a cost of $98.69 a piece. So far Frieson is in the green, up about 4.3% on their purchase based on today's trading high of $102.96. Lowe's Companies Inc is trading off about 0.4% on the day Friday.
And at Immunomedics, there was insider buying on Thursday, by Chief Quality Officer Bryan Ball who purchased 5,000 shares at a cost of $13.35 each, for a total investment of $66,750. Immunomedics, is trading off about 2.8% on the day Friday. Investors have the opportunity to bag IMMU even cheaper than Ball did, with the stock changing hands as low as $12.91 at last check today which is 3.3% under Ball's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.