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 Dollar General, a filing with the SEC revealed that on Friday, Director Timothy I. McGuire bought 3,550 shares of DG, for a cost of $202.00 each, for a total investment of $717,088. So far McGuire is in the green, up about 3.5% on their purchase based on today's trading high of $209.12. Dollar General is trading up about 1.5% on the day Tuesday.
And on Thursday, Chief Operating Officer Eric Scott Haynor purchased $381,129 worth of Purple Innovation, purchasing 138,598 shares at a cost of $2.75 each. This buy marks the first one filed by Haynor in the past year. Purple Innovation is trading up about 12% on the day Tuesday.
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