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 Monday, Enterprise Financial Services' Director, John S. Eulich, made a $146,150 buy of EFSC, purchasing 5,000 shares at a cost of $29.23 each. Enterprise Financial Services is trading up about 2.1% on the day Wednesday. Before this latest buy, Eulich purchased EFSC at 3 other times during the past twelve months, for a total cost of $404,833 at an average of $36.80 per share.
And on Tuesday, CEO John C. Corbett bought $120,000 worth of South State, buying 2,500 shares at a cost of $48.00 a piece. South State is trading up about 3.1% on the day Wednesday. Corbett was up about 7.1% on the purchase at the high point of today's trading session, with SSB trading as high as $51.38 in trading on Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.