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 Walgreens Boots Alliance, a filing with the SEC revealed that on Wednesday, CEO Rosalind G. Brewer bought 10,000 shares of WBA, at a cost of $33.95 each, for a total investment of $339,510. So far Brewer is in the green, up about 4.5% on their purchase based on today's trading high of $35.46. Walgreens Boots Alliance is trading up about 2.4% on the day Monday. This purchase marks the first one filed by Brewer in the past year.
And on Thursday, Director Robert Carey bought $127,500 worth of Beyond Air, buying 20,000 shares at a cost of $6.38 each. Before this latest buy, Carey purchased XAIR at 6 other times during the past twelve months, for a total cost of $869,355 at an average of $6.03 per share. Beyond Air Inc is trading off about 0.2% on the day Monday. Carey was up about 6.8% on the buy at the high point of today's trading session, with XAIR trading as high as $6.81 in trading on Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.