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 Columbus McKinnon, a filing with the SEC revealed that on Thursday, Director Christopher J. Stephens purchased 5,000 shares of CMCO, at a cost of $20.27 each, for a total investment of $101,350. Columbus McKinnon is trading up about 2.5% on the day Friday. Before this latest buy, Stephens purchased CMCO at 2 other times during the past year, for a total investment of $95,405 at an average of $38.16 per share.
And also on Thursday, CEO Nimrod Ben-natan purchased $75,061 worth of Harmonic, purchasing 7,780 shares at a cost of $9.65 a piece. This buy marks the first one filed by Ben-natan in the past twelve months. Harmonic is trading up about 2.8% on the day Friday. Ben-natan was up about 8.5% on the purchase at the high point of today's trading session, with HLIT trading as high as $10.47 at last check today.
VIDEO: Friday 2/14 Insider Buying Report: CMCO, HLIT
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
