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, CenterPoint Energy's Director, Leslie D. Biddle, made a $992,000 purchase of CNP, buying 50,000 shares at a cost of $19.84 each. Bargain hunters can pick up CNP even cheaper than Biddle did, with the stock changing hands as low as $19.38 in trading on Thursday -- that's 2.3% under Biddle's purchase price. CenterPoint Energy, is trading down about 0.6% on the day Thursday.
And on Wednesday, EVP - Chief Financial Officer Kirkland B. Andrews purchased $534,779 worth of Evergy, purchasing 10,000 shares at a cost of $53.48 each. This purchase marks the first one filed by Andrews in the past year. Evergy Inc is trading up about 0.2% on the day Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.