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 Monday, Exxon Mobil Corp (XOM)'s Director, Jeffrey W. Ubben, made a $48.97M purchase of XOM, buying 458,000 shares at a cost of $106.93 a piece. Investors can snag XOM even cheaper than Ubben did, with shares changing hands as low as $105.30 at last check today -- that's 1.5% under Ubben's purchase price. Exxon Mobil Corp is trading up about 0.7% on the day Thursday. Before this latest buy, Ubben made one other buy in the past twelve months, purchasing $88.45M shares for a cost of $88.45 a piece.
And at Agree Realty Corp. (ADC), there was insider buying on Wednesday, by Richard Agree who bought 11,751 shares for a cost of $62.95 each, for a total investment of $739,725. This purchase marks the first one filed by Agree in the past twelve months. Agree Realty Corp. is trading up about 2.4% on the day Thursday. Agree was up about 2.7% on the purchase at the high point of today's trading session, with ADC trading as high as $64.63 at last check today.
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