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 Thursday, Oxford Industries’ CEO and President, Thomas Caldecot Chubb III, made a $65,375 buy of OXM, purchasing 2,500 shares at a cost of $26.15 each. Investors can buy OXM even cheaper than Chubb III did, with shares changing hands as low as $24.78 at last check today — that’s 5.2% under Chubb III’s purchase price. Oxford Industries is trading down about 3.8% on the day Tuesday. Before this latest buy, Chubb III purchased OXM at 3 other times during the past twelve months, for a total investment of $376,103 at an average of $34.19 per share.
And at First Trust High Yield Opportunities 2027 Term Fund, there was insider buying on Thursday, by William A. Housey Jr. who bought 5,000 shares for a cost of $12.90 each, for a total investment of $64,500. Before this latest buy, Housey Jr. purchased FTHY on 2 other occasions during the past year, for a total investment of $100,026 at an average of $12.92 per share. First Trust High Yield Opportunities 2027 Term Fund is trading down about 0.1% on the day Tuesday.
VIDEO: Tuesday 9/29 Insider Buying Report: OXM, FTHY
