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, Actua's Director, H. Richard Haverstick Jr., made a $141,002 purchase of ACTA, buying 15,000 shares at a cost of $9.40 each. Bargain hunters are able to snag ACTA at a price even lower than Haverstick Jr. did, with the stock trading as low as $8.95 in trading on Wednesday which is 4.8% under Haverstick Jr.'s purchase price. Actua is trading off about 0.1% on the day Wednesday. This buy marks the first one filed by Haverstick Jr. in the past twelve months.
And at Heritage Insurance Holdings, there was insider buying on Friday, by President Richard A. Widdicombe who bought 10,000 shares at a cost of $12.84 each, for a trade totaling $128,384. This purchase marks the first one filed by Widdicombe in the past twelve months. Heritage Insurance Holdings is trading off about 1.6% on the day Wednesday. Investors are able to pick up HRTG at a price even lower than Widdicombe did, with the stock trading as low as $12.47 at last check today which is 2.9% under Widdicombe's purchase price.