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 Ultra Clean Holdings (UCTT), a filing with the SEC revealed that on Wednesday, Director Clarence L. Granger bought 44,000 shares of UCTT, at a cost of $14.18 each, for a total investment of $623,905. Bargain hunters can pick up UCTT at a price even lower than Granger did, with shares changing hands as low as $13.53 at last check today which is 4.6% below Granger's purchase price. Ultra Clean Holdings is trading up about 2.1% on the day Friday. This buy marks the first one filed by Granger in the past twelve months.
And at Genuine Parts Co. (GPC), there was insider buying on Tuesday, by Group President Automotive Scott Sonnemaker who purchased 5,000 shares at a cost of $99.01 each, for a total investment of $495,050. Genuine Parts Co. is trading down about 0.7% on the day Friday. Investors have the opportunity to snag GPC at a price even lower than Sonnemaker did, with shares changing hands as low as $97.87 in trading on Friday which is 1.2% under Sonnemaker's purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.