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 Plains All American Pipeline, a filing with the SEC revealed that on Thursday, Director Kevin S. McCarthy bought 200,000 shares of PAA, for a cost of $9.81 each, for a total investment of $1.96M. McCarthy was up about 3.6% on the buy at the high point of today’s trading session, with PAA trading as high as $10.16 in trading on Monday. Plains All American Pipeline is trading up about 1.3% on the day Monday. This buy marks the first one filed by McCarthy in the past year.
And on Wednesday, Chief Innovation Officer Gary J. Nabel purchased $597,393 worth of OPKO Health, purchasing 240,000 shares at a cost of $2.49 each. This buy marks the first one filed by Nabel in the past twelve months. OPKO Health is trading up about 0.9% on the day Monday. Nabel was up about 7.3% on the buy at the high point of today’s trading session, with OPK trading as high as $2.67 at last check today.
VIDEO: Monday 6/27 Insider Buying Report: PAA, OPK
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