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 Cannae Holdings, a filing with the SEC revealed that on Wednesday, Chief Executive Officer Richard N. Massey bought 10,000 shares of CNNE, for a cost of $39.78 each, for a total investment of $397,836. Cannae Holdings Inc is trading up about 8% on the day Monday. Before this latest buy, Massey purchased CNNE on 4 other occasions during the past year, for a total investment of $2.44M at an average of $36.56 per share.
And on Friday, Director Richard Scott Cooley bought $213,000 worth of Diamond Hill Investment Group, buying 1,500 shares at a cost of $142.00 each. Diamond Hill Investment Group is trading up about 2.1% on the day Monday. So far Cooley is in the green, up about 4.2% on their buy based on today's trading high of $147.97.
For MarketNewsVideo.com, I'm Sayoko Murase.