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 Ivanhoe Electric, a filing with the SEC revealed that on Friday, Chief Executive Officer Robert M. Friedland bought 416,666 shares of IE, for a cost of $8.00 each, for a total investment of $3.33M. So far Friedland is in the green, up about 8.1% on their buy based on today's trading high of $8.65. Ivanhoe Electric is trading up about 0.3% on the day Tuesday. Before this latest buy, Friedland made one other purchase in the past twelve months, buying $1.54M shares at a cost of $8.60 a piece.
And on Thursday, CHIEF EXECUTIVE OFFICER A. William Stein purchased $566,100 worth of Digital Realty Trust, purchasing 5,000 shares at a cost of $113.22 each. Before this latest buy, Stein made one other purchase in the past year, buying $629,750 shares at a cost of $125.95 each. Digital Realty Trust is trading down about 0.5% on the day Tuesday. Bargain hunters can grab DLR even cheaper than Stein did, with shares trading as low as $109.95 at last check today which is 2.9% under Stein's purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
