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, NuStar Energy (NS)'s Director, William E. Greehey, made a $4.55M purchase of NS, buying 74,460 shares at a cost of $61.09 a piece. Greehey was up about 2.2% on the purchase at the high point of today's trading session, with NS trading as high as $62.45 at last check today. NuStar Energy is trading up about 1.3% on the day Wednesday. Before this latest buy, Greehey bought NS at 7 other times during the past year, for a total investment of $19.27M at an average of $56.66 per share.
And on Tuesday, CEO & Chairman of the Board Scott Painter bought $1.23M worth of TrueCar (TRUE), buying 70,000 shares at a cost of $17.53 a piece. Before this latest buy, Painter bought TRUE at 4 other times during the past year, for a total investment of $3.33M at an average of $10.50 per share. TrueCar is trading up about 5.6% on the day Wednesday.
