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 GEO Group (
), a filing with the SEC revealed that on Friday, CEO George C.
Zoley bought 46,901 shares of GEO, at a cost of $33.79 each, for a
total investment of $1.58M. So far Zoley is in the green, up about
2.5% on their purchase based on today's trading high of $34.64. GEO
Group is trading up about 1.2% on the day Wednesday. This buy marks
the first one filed by Zoley in the past year.
And on Monday, Director Brian Gerald John Gray purchased $507,600
worth of RenaissanceRe Holdings (
), purchasing 5,000 shares at a cost of $101.52 each. RenaissanceRe
Holdings is trading up about 1.4% on the day Wednesday. So far Gray
is in the green, up about 1.4% on their purchase based on today's
trading high of $102.99.
VIDEO: Wednesday 5/7 Insider Buying Report: GEO,