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.
At Keurig Dr Pepper, a filing with the SEC revealed that on Monday, Chief Supply Chain Officer Maurice Anthony Milikin bought 12,979 shares of KDP, at a cost of $38.79 each, for a total investment of $503,455. Bargain hunters have the opportunity to bag KDP at a price even lower than Milikin did, with shares changing hands as low as $38.17 at last check today which is 1.6% under Milikin's purchase price. Keurig Dr Pepper is trading off about 0.4% on the day Wednesday. Before this latest buy, Milikin bought KDP on 8 other occasions during the past twelve months, for a total cost of $3.89M at an average of $37.42 per share.
And on Tuesday, CHAIRMAN AND CEO David A. Lorber purchased $163,981 worth of Phenixfin, purchasing 4,319 shares at a cost of $37.97 a piece. Before this latest buy, Lorber bought PFX at 5 other times during the past twelve months, for a total investment of $2.29M at an average of $41.09 per share. Phenixfin is trading up about 1% on the day Wednesday. Bargain hunters have the opportunity to grab PFX even cheaper than Lorber did, with shares changing hands as low as $37.40 at last check today -- that's 1.5% below Lorber's purchase price.
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