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 Tuesday, Banc Of California's , Joseph J. Rice, made a $126,588 purchase of BANC, buying 10,000 shares at a cost of $12.66 a piece. Bargain hunters have the opportunity to bag BANC at a price even lower than Rice did, with the stock trading as low as $12.12 at last check today -- that's 4.2% under Rice's purchase price. Banc Of California is trading up about 1.1% on the day Thursday. Before this latest buy, Rice made one other buy in the past year, purchasing $84,375 shares at a cost of $11.25 a piece.
And on Wednesday, CEO Joseph Wm Foran purchased $108,600 worth of Matador Resources, purchasing 2,000 shares at a cost of $54.30 each. Before this latest buy, Foran purchased MTDR at 5 other times during the past twelve months, for a total cost of $411,589 at an average of $47.57 per share. Matador Resources is trading up about 0.8% on the day Thursday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
