Monday 10/5 Insider Buying Report: KMX, PRGS

Monday 10/5 Insider Buying Report: KMX, PRGS

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.

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 Wednesday, Carmax's Director, Mark F.

Oneil, made a $252,180 purchase of KMX, buying 2,700 shares at a cost of $93.40 each.

So far Oneil is in the green, up about 6.2% on their buy based on today's trading high of $99.19.

Carmax is trading up about 3.2% on the day Monday.

This buy marks the first one filed by Oneil in the past twelve months.

And at Progress Software, there was insider buying on Thursday, by Chief Financial Officer Anthony Folger who purchased 2,622 shares at a cost of $37.75 each, for a trade totaling $98,980.

This purchase marks the first one filed by Folger in the past year.

Progress Software is trading down about 0.1% on the day Monday.