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 Burke Herbert Financial Services, a filing with the SEC revealed that on Friday, Director Shawn Patrick McLaughlin purchased 1,400 shares of BHRB, at a cost of $49.85 each, for a total investment of $69,794. McLaughlin was up about 3.8% on the purchase at the high point of today's trading session, with BHRB trading as high as $51.75 at last check today. Burke Herbert Financial Services is trading trading flat on the day Wednesday.
And at Spire, there was insider buying on Friday, by Treasurer Adam W. Woodard who purchased 1,000 shares at a cost of $58.70 each, for a total investment of $58,700. This purchase marks the first one filed by Woodard in the past year. Spire is trading up about 1.1% on the day Wednesday. Investors have the opportunity to grab SR at a price even lower than Woodard did, with shares trading as low as $57.29 at last check today -- that's 2.4% under Woodard'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.
