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 Casey's General Stores, a filing with the SEC revealed that on Monday, Director Moats Maria Castanon bought 300 shares of CASY, for a cost of $554.66 each, for a total investment of $166,398. Castanon was up about 2.1% on the purchase at the high point of today's trading session, with CASY trading as high as $566.24 at last check today. Casey's General Stores is trading up about 0.3% on the day Wednesday. This purchase marks the first one filed by Castanon in the past twelve months.
And at Rocket Pharmaceuticals, there was insider buying on Friday, by Elisabeth Bjork who purchased 10,000 shares at a cost of $3.44 each, for a total investment of $34,400. Before this latest buy, Bjork made one other buy in the past twelve months, purchasing $34,100 shares for a cost of $3.41 each. Rocket Pharmaceuticals is trading up about 8.6% on the day Wednesday. Bjork was up about 13.0% on the buy at the high point of today's trading session, with RCKT trading as high as $3.89 at last check today.
VIDEO: Wednesday 1/7 Insider Buying Report: CASY, RCKT
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