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 Friday, EOG Resources' Director, Michael T. Kerr, made a $4.3M buy of EOG, purchasing 50,000 shares at a cost of $86.00 a piece. So far Kerr is in the green, up about 2.7% on their purchase based on today's trading high of $88.30. EOG Resources is trading off about 0.7% on the day Tuesday.
And at Evergy, there was insider buying on Monday, by Director C. John Wilder who purchased 21,045 shares at a cost of $65.19 each, for a trade totaling $1.37M. Before this latest buy, Wilder purchased EVRG at 10 other times during the past twelve months, for a total cost of $130.4M at an average of $51.34 per share. Evergy is trading down about 0.7% on the day Tuesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
