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, Charter Communications ( CHTR )'s Chief Financial Officer, Christopher L. Winfrey, made a $1.00M purchase of CHTR, buying 3,100 shares at a cost of $323.61 a piece. Winfrey was up about 5.3% on the buy at the high point of today's trading session, with CHTR trading as high as $340.74 at last check today. Charter Communications is trading up about 1.4% on the day Wednesday.
And also on Monday, Director Steven Gillis purchased $915,000 worth of VBI Vaccines ( VBIV ), purchasing 300,000 shares at a cost of $3.05 a piece. This purchase marks the first one filed by Gillis in the past twelve months. VBI Vaccines is trading up about 9.3% on the day Wednesday. Gillis was up about 25.7% on the purchase at the high point of today's trading session, with VBIV trading as high as $3.83 in trading on Wednesday.