Friday 6/7 Insider Buying Report: EOLS, FCX Friday, June 7, 10:43 AM ET
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 Evolus (EOLS), a filing with the SEC revealed that on Monday, Director Vikram Malik purchased 1,298,701 shares of EOLS, for a cost of $19.25 each, for a total investment of $25M. Investors are able to pick up EOLS at a price even lower than Malik did, with shares changing hands as low as $15.90 in trading on Friday — that's 17.4% below Malik's purchase price. Evolus is trading down about 5.3% on the day Friday. Before this latest buy, Malik bought EOLS on 2 other occasions during the past year, for a total investment of $350,042 at an average of $21.34 per share.
And on Thursday, CEO Richard C. Adkerson bought $1.74M worth of Freeport-McMoran Copper & Gold (FCX), buying 172,000 shares at a cost of $10.14 a piece. Freeport-McMoran Copper & Gold is trading up about 3.9% on the day Friday. Adkerson was up about 4.7% on the buy at the high point of today's trading session, with FCX trading as high as $10.62 in trading on Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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