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 Hallador Energy, a filing with the SEC revealed that on Tuesday, Barbara Ann Sugg purchased 5,000 shares of HNRG, for a cost of $17.13 each, for a total investment of $85,648. Investors have the opportunity to pick up HNRG at a price even lower than Sugg did, with shares changing hands as low as $15.93 in trading on Thursday — that’s 7.0% under Sugg’s purchase price. Hallador Energy is trading down about 1.4% on the day Thursday. This purchase marks the first one filed by Sugg in the past year.
And also on Tuesday, Chief Executive Officer Chun Kai Wang purchased $11,073 worth of Obook Holdings, purchasing 1,954 shares at a cost of $5.67 each. Before this latest buy, Wang bought OWLS at 2 other times during the past year, for a total cost of $13,976 at an average of $5.72 per share. Obook Holdings is trading up about 0.8% on the day Thursday. Bargain hunters have the opportunity to pick up OWLS at a price even lower than Wang did, with shares changing hands as low as $5.55 in trading on Thursday which is 2.1% below Wang’s purchase price.
VIDEO: Thursday 7/16 Insider Buying Report: HNRG, OWLS
