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 Cardiff Oncology, a filing with the SEC revealed that on Tuesday, Gary W. Pace purchased 687,285 shares of CRDF, for a cost of $1.46 each, for a total investment of $1M. Investors have the opportunity to pick up CRDF even cheaper than Pace did, with the stock trading as low as $0.87 at last check today — that’s 40.2% under Pace’s purchase price. Cardiff Oncology is trading up about 0.9% on the day Friday. Before this latest buy, Pace purchased CRDF on 2 other occasions during the past year, for a total cost of $747,100 at an average of $2.33 per share.
And at Fidelity National Information Services, there was insider buying on Wednesday, by Director Jeffrey A. Goldstein who bought 1,386 shares at a cost of $41.39 each, for a trade totaling $57,367. Before this latest buy, Goldstein purchased FIS at 3 other times during the past year, for a total investment of $177,203 at an average of $58.54 per share. Fidelity National Information Services is trading up about 0.9% on the day Friday. Goldstein was up about 5.5% on the buy at the high point of today’s trading session, with FIS trading as high as $43.67 in trading on Friday.
VIDEO: Friday 7/17 Insider Buying Report: CRDF, FIS
