Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Innovage Holding's Director, Edward Moore Kennedy Jr., made a $483,000 buy of INNV, purchasing 23,000 shares at a cost of $21.00 each. So far Kennedy Jr. is in the green, up about 16.3% on their buy based on today's trading high of $24.43. Innovage Holding is trading up about 3% on the day Tuesday. This purchase marks the first one filed by Kennedy Jr. in the past year.
And on Friday, Director David Maisel purchased $274,540 worth of Gaia, purchasing 25,000 shares at a cost of $10.98 each. Gaia is trading up about 5.8% on the day Tuesday. Maisel was up about 27.5% on the purchase at the high point of today's trading session, with GAIA trading as high as $14.00 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.