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 Thursday, Topgolf Callaway Brands' Director, Adebayo O. Ogunlesi, made a $2.48M buy of MODG, purchasing 383,701 shares at a cost of $6.47 a piece. Ogunlesi was up about 10.1% on the purchase at the high point of today's trading session, with MODG trading as high as $7.12 at last check today. Topgolf Callaway Brands is trading up about 9.1% on the day Monday.
And at Traeger, there was insider buying on Friday, by Chief Executive Officer Jeremy Andrus who bought 727,187 shares for a cost of $1.38 each, for a total investment of $1.01M. Before this latest buy, Andrus made one other purchase in the past twelve months, buying $4,375 shares for a cost of $1.37 each. Traeger is trading up about 33% on the day Monday. Andrus was up about 57.5% on the purchase at the high point of today's trading session, with COOK trading as high as $2.18 in trading on Monday.
VIDEO: Monday 6/9 Insider Buying Report: MODG, COOK
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