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, Extra Space Storage's Director, Kenneth M. Woolley, made a $2.11M purchase of EXR, buying 10,500 shares at a cost of $200.75 a piece. Bargain hunters are able to bag EXR at a price even lower than Woolley did, with shares trading as low as $196.25 at last check today -- that's 2.2% under Woolley's purchase price. Extra Space Storage is trading down about 0.6% on the day Thursday.
And on Tuesday, Director Michael E. Pegram bought $895,526 worth of Caesars Entertainment, buying 13,000 shares at a cost of $68.89 a piece. This purchase marks the first one filed by Pegram in the past twelve months. Caesars Entertainment is trading off about 0.2% on the day Thursday. Pegram was up about 13.0% on the purchase at the high point of today's trading session, with CZR trading as high as $77.83 in trading on Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.