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.
Tuesday 5/12 Insider Buying Report: RCII, STFC
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 Friday, Rent-A-Center's Director, Jeffrey J.
Brown, made a $460,118 purchase of RCII, buying 20,000 shares at a cost of $23.01 each.
Brown was up about 6.2% on the buy at the high point of today's trading session, with RCII trading as high as $24.44 in trading on Tuesday.
Rent-A-Center is trading down about 0.5% on the day Tuesday.
And at State Auto Financial, there was insider buying on Thursday, by Senior Vice President Kim Burton Garland who bought 14,786 shares for a cost of $21.26 each, for a total investment of $314,350.
State Auto Financial is trading off about 2.6% on the day Tuesday.
Bargain hunters are able to bag STFC even cheaper than Garland did, with shares trading as low as $19.61 at last check today -- that's 7.7% below Garland's purchase price.