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 Wednesday, Rite Aid’s CEO, Heyward R. Donigan, made a $199,960 buy of RAD, purchasing 14,350 shares at a cost of $13.93 a piece. Rite Aid is trading up about 0.2% on the day Monday. This buy marks the first one filed by Donigan in the past twelve months.
And also on Wednesday, Director Jason Lippert purchased $119,000 worth of Quanex Building Products, purchasing 5,000 shares at a cost of $23.80 each. Before this latest buy, Lippert made one other purchase in the past twelve months, buying $117,000 shares at a cost of $23.40 a piece. Quanex Building Products is trading up about 1.5% on the day Monday. Lippert was up about 5.0% on the purchase at the high point of today’s trading session, with NX trading as high as $24.98 at last check today.
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