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.
On Wednesday, Dillard's Director, Warren A. Stephens, made a $4.61M purchase of DDS, buying 20,000 shares at a cost of $230.51 each. Stephens was up about 15.4% on the purchase at the high point of today's trading session, with DDS trading as high as $265.94 at last check today. Dillard's is trading down about 0.5% on the day Monday. This purchase marks the first one filed by Stephens in the past year.
And on Thursday, PRESIDENT AND COO Chistopher Wellborn purchased $1.36M worth of Mohawk Industries, purchasing 10,000 shares at a cost of $135.76 each. Mohawk Industries is trading down about 1.5% on the day Monday. Wellborn was up about 4.9% on the purchase at the high point of today's trading session, with MHK trading as high as $142.46 at last check today.
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