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, CVB Financial Corp (CVBF)'s Director, George A. Borba Jr., made a $4.99M buy of CVBF, purchasing 257,704 shares at a cost of $19.37 each. CVB Financial Corp is trading up about 2.7% on the day Thursday.
And at Merrimack Pharmaceuticals (MACK), there was insider buying on Tuesday, by Eric Andersen who bought 221,550 shares for a cost of $12.00 each, for a total investment of $2.66M. Before this latest buy, Andersen made one other buy in the past year, purchasing $1.85M shares for a cost of $11.52 each. Merrimack Pharmaceuticals is trading up about 2% on the day Thursday. So far Andersen is in the green, up about 4.6% on their purchase based on today's trading high of $12.55.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
