Tuesday 6/9 Insider Buying Report: INR, ONT
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 Infinity Natural Resources, a filing with the SEC revealed that on Friday, William J. Quinn bought 44,000 shares of INR, at a cost of $13.19 each, for a total investment of $580,206. So far Quinn is in the green, up about 5.5% on their purchase based on today's trading high of $13.91. Infinity Natural Resources is trading up about 0.1% on the day Tuesday. Before this latest buy, Quinn made one other buy in the past year, purchasing $138,640 shares at a cost of $13.20 each.
And also on Friday, Peter Graham purchased $432,157 worth of Onterris, purchasing 25,140 shares at a cost of $17.19 each. Before this latest buy, Graham made one other buy in the past year, purchasing $77,468 shares at a cost of $15.94 each. Onterris is trading up about 5.9% on the day Tuesday. So far Graham is in the green, up about 5.1% on their buy based on today's trading high of $18.06.
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