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 The Charles Schwab Corporation ( SCHW ), a filing with the SEC revealed that on Wednesday, CEO Walter W. Bettinger bought 124,669 shares of SCHW, for a cost of $38.81 each, for a total investment of $4.84M. Bettinger was up about 7.2% on the purchase at the high point of today's trading session, with SCHW trading as high as $41.62 at last check today. The Charles Schwab Corporation is trading up about 0.5% on the day Friday. This purchase marks the first one filed by Bettinger in the past twelve months.
And at Front Yard Residential Corp ( RESI ), there was insider buying on Wednesday, by Park Road Management Company, LP Deer who bought 400,000 shares for a cost of $8.42 each, for a trade totaling $3.37M. Before this latest buy, Deer bought RESI at 2 other times during the past twelve months, for a total investment of $4.85M at an average of $8.82 per share. Front Yard Residential Corp is trading up about 0.7% 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
