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 Tuesday, Tutor Perini's Director, Peter Arkley, made a $2.56M buy of TPC, purchasing 40,000 shares at a cost of $64.12 a piece. Arkley was up about 5.5% on the purchase at the high point of today's trading session, with TPC trading as high as $67.63 at last check today. Tutor Perini is trading up about 2.3% on the day Wednesday. This purchase marks the first one filed by Arkley in the past twelve months.
And at Aurora Innovation, there was insider buying on Tuesday, by Chief Executive Officer Christopher Urmson who bought 258,000 shares for a cost of $3.88 each, for a total investment of $1.00M. This purchase marks the first one filed by Urmson in the past twelve months. Aurora Innovation is trading up about 3.1% on the day Wednesday. Urmson was up about 7.1% on the purchase at the high point of today's trading session, with AUR trading as high as $4.16 at last check today.
VIDEO: Wednesday 11/26 Insider Buying Report: TPC, AUR
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