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 Legacy Housing, a filing with the SEC revealed that on Thursday, Director Mark E. Bennett purchased 34,773 shares of LEGH, for a cost of $12.01 each, for a total investment of $417,586. Investors can snag LEGH at a price even lower than Bennett did, with the stock changing hands as low as $11.50 at last check today which is 4.2% under Bennett's purchase price. Legacy Housing is trading down about 0.5% on the day Monday. Before this latest buy, Bennett bought LEGH on 2 other occasions during the past twelve months, for a total investment of $412,872 at an average of $12.00 per share.
And also on Thursday, EVP Wells Patrick Schorn purchased $375,500 worth of Schlumberger, purchasing 10,000 shares at a cost of $37.55 each. Before this latest buy, Schorn made one other buy in the past year, purchasing $323,950 shares at a cost of $64.79 a piece. Schlumberger is trading down about 0.4% on the day Monday. Investors can buy SLB even cheaper than Schorn did, with the stock trading as low as $35.00 at last check today - that's 6.8% under Schorn's purchase price.
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