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, New Fortress Energy's Chief Executive Officer, Wesley R. Edens, made a $1.75M purchase of NFE, buying 200,000 shares at a cost of $8.77 a piece. Edens was up about 5.2% on the buy at the high point of today's trading session, with NFE trading as high as $9.23 at last check today. New Fortress Energy is trading down about 2.3% on the day Wednesday. Before this latest buy, Edens made one other purchase in the past twelve months, buying $50M shares at a cost of $8.63 each.
And also on Tuesday, Howard Widra bought $619,990 worth of Midcap Financial Investment, buying 50,000 shares at a cost of $12.40 a piece. This purchase marks the first one filed by Widra in the past twelve months. Midcap Financial Investment is trading up about 1.9% on the day Wednesday. So far Widra is in the green, up about 3.1% on their purchase based on today's trading high of $12.78.
VIDEO: Wednesday 3/12 Insider Buying Report: NFE, MFIC
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