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, Ryman Hospitality Properties (RHP)'s CEO, Colin V. Reed, made a $1.08M purchase of RHP, buying 13,585 shares at a cost of $79.30 each. So far Reed is in the green, up about 1.6% on their buy based on today's trading high of $80.54. Ryman Hospitality Properties is trading off about 2.6% on the day Wednesday. Before this latest buy, Reed purchased RHP on 2 other occasions during the past year, for a total investment of $1.49M at an average of $77.94 per share.
And at Spectrum Brands Holdings (SPB), there was insider buying on Friday, by CEO David M. Maura who bought 20,000 shares at a cost of $50.42 each, for a trade totaling $1.01M. Spectrum Brands Holdings is trading down about 2.8% on the day Wednesday. Bargain hunters can bag SPB even cheaper than Maura did, with the stock trading as low as $48.30 at last check today which is 4.2% under Maura's purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.