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, Occidental Petroleum's CEO, Vicki A. Hollub, made a $798,102 purchase of OXY, buying 14,191 shares at a cost of $56.24 each. So far Hollub is in the green, up about 5.3% on their buy based on today's trading high of $59.22. Occidental Petroleum is trading up about 1.1% on the day Thursday. This purchase marks the first one filed by Hollub in the past twelve months.
And on Tuesday, Director Mark Keith Holdsworth bought $360,135 worth of RF Industries, buying 50,000 shares at a cost of $7.20 each. Before this latest buy, Holdsworth bought RFIL on 4 other occasions during the past year, for a total investment of $657,680 at an average of $7.23 per share. RF Industries is trading up about 2.4% on the day Thursday. Holdsworth was up about 1.4% on the buy at the high point of today's trading session, with RFIL trading as high as $7.30 in trading on Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.