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 Thursday, Southside Bancshares' CEO, Lee R. Gibson, made a $66,440 buy of SBSI, purchasing 2,000 shares at a cost of $33.22 each. So far Gibson is in the green, up about 2.9% on their buy based on today's trading high of $34.19. Southside Bancshares is trading up about 3.3% on the day Friday.
And at Ally Financial, there was insider buying on Tuesday, by Marjorie Magner who bought 2,000 shares at a cost of $27.43 each, for a trade totaling $54,868. This purchase marks the first one filed by Magner in the past year. Ally Financial is trading up about 3.1% on the day Friday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
