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 Core & Main, a filing with the SEC revealed that on Monday, Director James D. Hope purchased 2,067 shares of CNM, at a cost of $46.01 each, for a total investment of $95,111. Core & Main is trading down about 0.1% on the day Thursday. Before this latest buy, Hope made one other buy in the past year, purchasing $99,971 shares at a cost of $50.70 each.
And at Total Return Securities Fund, there was insider buying on Monday, by Secretary Phillip Goldstein who bought 5,980 shares at a cost of $5.95 each, for a total investment of $35,581. Before this latest buy, Goldstein bought SWZ on 2 other occasions during the past twelve months, for a total cost of $119,700 at an average of $5.99 per share. Total Return Securities Fund is trading up about 0.1% on the day Thursday.
VIDEO: Thursday 7/9 Insider Buying Report: CNM, SWZ
