Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, William Lyon Homes ( WLH )'s Executive Chairman, William Lyon, made a $508,190 buy of WLH, purchasing 33,000 shares at a cost of $15.40 a piece. So far Lyon is in the green, up about 2.4% on their buy based on today's trading high of $15.77. William Lyon Homes is trading up about 1.8% on the day Monday. This purchase marks the first one filed by Lyon in the past year.
And also on Friday, Director Lance Willsey bought $488,550 worth of Exelixis ( EXEL ), buying 100,000 shares at a cost of $4.89 each. This buy marks the first one filed by Willsey in the past twelve months. Exelixis is trading up about 1.5% on the day Monday.