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, Personalis (PSNL)'s Director, Paul Ricci, made a $680,000 buy of PSNL, purchasing 40,000 shares at a cost of $17.00 each. So far Ricci is in the green, up about 76.4% on their buy based on today's trading high of $29.99. Personalis is trading up about 1.5% on the day Tuesday. This purchase marks the first one filed by Ricci in the past year.
And at Visteon Corp (VC), there was insider buying on Friday, by Director Harry James Wilson who bought 2,000 shares at a cost of $53.92 each, for a trade totaling $107,840. Before this latest buy, Wilson purchased VC on 2 other occasions during the past twelve months, for a total cost of $676,550 at an average of $90.21 per share. Visteon Corp is trading up about 1.2% on the day Tuesday.