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.
Wednesday 3/10 Insider Buying Report: PFSI, SSSS
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 PennyMac Financial Services, a filing with the SEC revealed that on Tuesday, Director Farhad Nanji bought 241,677 shares of PFSI, at a cost of $60.49 each, for a total investment of $14.62M.
So far Nanji is in the green, up about 12.4% on their buy based on today's trading high of $67.97.
PennyMac Financial Services is trading up about 3.2% on the day Wednesday.
And at Suro Capital, there was insider buying on Friday, by See Remarks Allison Green who bought 16,610 shares for a cost of $11.91 each, for a total investment of $197,854.
This purchase marks the first one filed by Green in the past twelve months.
Suro Capital is trading up about 3.8% on the day Wednesday.
Green was up about 17.4% on the buy at the high point of today's trading session, with SSSS trading as high as $13.99 in trading on Wednesday.