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 Accuray, a filing with the SEC revealed that on Monday, Joseph E. Whitters purchased 20,000 shares of ARAY, for a cost of $5.02 each, for a total investment of $100,400. Whitters was up about 7.6% on the purchase at the high point of today's trading session, with ARAY trading as high as $5.40 at last check today. Accuray is trading up about 8.3% on the day Wednesday. Before this latest buy, Whitters made one other buy in the past twelve months, purchasing $173,135 shares at a cost of $3.46 a piece.
And at Trinity Capital, there was insider buying on Friday, by CIO Kyle Steven Brown who purchased 6,800 shares for a cost of $14.00 each, for a trade totaling $95,200. Trinity Capital is trading up about 0.6% on the day Wednesday. So far Brown is in the green, up about 5.0% on their buy based on today's trading high of $14.70.
For MarketNewsVideo.com, I'm Sayoko Murase.