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 Virco Manufacturing, a filing with the SEC revealed that on Thursday, Executive Vice President Douglas A. Virtue purchased 5,740 shares of VIRC, at a cost of $6.00 each, for a total investment of $34,438. Virtue was up about 3.1% on the buy at the high point of today’s trading session, with VIRC trading as high as $6.18 at last check today. Virco Manufacturing is trading up about 1.5% on the day Friday. Before this latest buy, Virtue bought VIRC on 5 other occasions during the past twelve months, for a total cost of $257,886 at an average of $6.47 per share.
And at Taiwan Semiconductor Manufacturing, there was insider buying on Tuesday, by Controller Chih-ho Chen who purchased 50 shares at a cost of $74.60 each, for a total investment of $3,730. Before this latest buy, Chen purchased TSM at 4 other times during the past year, for a total cost of $9,564 at an average of $69.81 per share. Taiwan Semiconductor Manufacturing is trading down about 1.8% on the day Friday. Chen was up about 442.5% on the purchase at the high point of today’s trading session, with TSM trading as high as $404.70 at last check today.
VIDEO: Friday 7/17 Insider Buying Report: VIRC, TSM
