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 Thursday, Wayfair's Director, Michael W. Choe, made a $1.22M purchase of W, buying 10,000 shares at a cost of $122.24 a piece. Choe was up about 7.4% on the purchase at the high point of today's trading session, with W trading as high as $131.33 at last check today. Wayfair is trading up about 0.2% on the day Tuesday. Before this latest buy, Choe made one other purchase in the past twelve months, buying $2.59M shares for a cost of $258.98 a piece.
And at Tripadvisor, there was insider buying on Friday, by Director Gregory B. Maffei who bought 50,000 shares at a cost of $22.38 each, for a total investment of $1.12M. This buy marks the first one filed by Maffei in the past year. Tripadvisor is trading up about 3.2% on the day Tuesday. Bargain hunters have the opportunity to bag TRIP at a price even lower than Maffei did, with the stock changing hands as low as $20.72 at last check today which is 7.4% under Maffei's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.