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 Borr Drilling, a filing with the SEC revealed that on Wednesday, Director Tor Olav Troim purchased 1,000,000 shares of BORR, for a cost of $4.30 each, for a total investment of $4.3M. Troim was up about 2.8% on the purchase at the high point of today’s trading session, with BORR trading as high as $4.42 in trading on Thursday. Borr Drilling is trading up about 4% on the day Thursday. Before this latest buy, Troim bought BORR on 6 other occasions during the past year, for a total cost of $19.49M at an average of $4.57 per share.
And on Monday, Lawrence Erik Kurzius purchased $539,150 worth of Cooper Companies, purchasing 10,000 shares at a cost of $53.91 each. Before this latest buy, Kurzius purchased COO at 2 other times during the past twelve months, for a total investment of $301,780 at an average of $75.44 per share. Cooper Companies, is trading off about 2.1% on the day Thursday.
VIDEO: Thursday 9/17 Insider Buying Report: BORR, COO
