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 Evercore, a filing with the SEC revealed that on Thursday, Principal Financial Officer Robert B. Walsh bought 2,000 shares of EVR, at a cost of $50.14 each, for a total investment of $100,280. Evercore is trading up about 7.2% on the day Monday. Before this latest buy, Walsh bought EVR at 2 other times during the past twelve months, for a total investment of $663,980 at an average of $60.36 per share.
And at Bryn Mawr Bank, there was insider buying on Thursday, by President of BMTC F. Kevin Tylus who purchased 3,000 shares at a cost of $26.34 each, for a trade totaling $79,032. This purchase marks the first one filed by Tylus in the past twelve months. Bryn Mawr Bank Corp is trading up about 9.6% on the day Monday. So far Tylus is in the green, up about 12.3% on their buy based on today's trading high of $29.59.