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 DHI Group, a filing with the SEC revealed that on Monday, Director Scipio Maximus Carnecchia bought 36,800 shares of DHX, at a cost of $2.69 each, for a total investment of $98,992. Carnecchia was up about 14.9% on the buy at the high point of today's trading session, with DHX trading as high as $3.09 at last check today. DHI Group Inc is trading off about 4.7% on the day Thursday. Before this latest buy, Carnecchia made one other purchase in the past year, buying $148,798 shares at a cost of $2.71 each.
And on Tuesday, John M. Schultz bought $77,557 worth of Midland States Bancorp, buying 5,000 shares at a cost of $15.51 a piece. Midland States Bancorp Inc is trading off about 4.8% on the day Thursday. Schultz was up about 11.7% on the purchase at the high point of today's trading session, with MSBI trading as high as $17.32 in trading on Thursday.