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 Monday, OPENLANE’s Chief Executive Officer, Peter J. Kelly, made a $499,999 buy of OPLN, purchasing 14,830 shares at a cost of $33.72 each. Kelly was up about 6.5% on the buy at the high point of today’s trading session, with OPLN trading as high as $35.92 in trading on Thursday. OPENLANE is trading up about 2.2% on the day Thursday. This buy marks the first one filed by Kelly in the past twelve months.
And also on Monday, Director Charles D. Denson purchased $499,995 worth of Funko, purchasing 72,992 shares at a cost of $6.85 a piece. This buy marks the first one filed by Denson in the past twelve months. Funko is trading up about 4% on the day Thursday.
VIDEO: Thursday 8/27 Insider Buying Report: OPLN, FNKO 