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 Friday, Ares Capital ( ARCC )'s Chief Executive Officer, Michael J. Arougheti, made a $830,000 buy of ARCC, purchasing 50,000 shares at a cost of $16.60 each. Ares Capital is trading up about 2.6% on the day Wednesday. This buy marks the first one filed by Arougheti in the past twelve months.
And on Tuesday, Director Matthew A. Drapkin purchased $734,619 worth of Intevac ( IVAC ), purchasing 107,801 shares at a cost of $6.81 a piece. Intevac is trading up about 0.7% on the day Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
