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, ACNB's Director, David L. Sites, made a $73,932 buy of ACNB, purchasing 2,964 shares at a cost of $24.94 a piece. So far Sites is in the green, up about 2.0% on their purchase based on today's trading high of $25.43. ACNB is trading off about 0.4% on the day Wednesday. Before this latest buy, Sites purchased ACNB at 4 other times during the past twelve months, for a total investment of $380,402 at an average of $30.36 per share.
And at Good Times Restaurants, there was insider buying on Tuesday, by CEO Ryan M. Zink who bought 19,888 shares at a cost of $2.89 each, for a trade totaling $57,495. Before this latest buy, Zink purchased GTIM on 3 other occasions during the past year, for a total investment of $35,484 at an average of $1.91 per share. Good Times Restaurants is trading up about 12.1% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.