Thursday 12/17 Insider Buying Report: MDVN, XCO
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 Medivation ( MDVN ), a filing with the SEC revealed that on Monday, Director W. Anthony Vernon bought 15,000 shares of MDVN, for a cost of $40.69 each, for a total investment of $610,350. So far Vernon is in the green, up about 11.5% on their buy based on today's trading high of $45.36. Medivation is trading off about 0.9% on the day Thursday.
And also on Monday, Director John C. Wilder Jr. bought $567,687 worth of Exco Resources ( XCO ), buying 592,118 shares at a cost of $0.96 a piece. Before this latest buy, Wilder Jr. purchased XCO at 14 other times during the past twelve months, for a total cost of $7.87M at an average of $1.13 per share. Exco Resources is trading off about 5% on the day Thursday.