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, Cutera's Director, J. Daniel Plants, made a $999,999 buy of CUTR, purchasing 95,238 shares at a cost of $10.50 each. So far Plants is in the green, up about 26.2% on their buy based on today's trading high of $13.25. Cutera is trading up about 9.3% on the day Thursday. Before this latest buy, Plants bought CUTR on 3 other occasions during the past year, for a total investment of $595,544 at an average of $16.77 per share.
And at Groupon, there was insider buying on Monday, by Director Theodore Leonsis who bought 1,000,000 shares at a cost of $0.95 each, for a trade totaling $950,000. This purchase marks the first one filed by Leonsis in the past year. Groupon is trading up about 7.8% on the day Thursday. Leonsis was up about 15.8% on the buy at the high point of today's trading session, with GRPN trading as high as $1.10 in trading on Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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