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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Maia Biotechnology's Director, Stan Smith, made a $1M purchase of MAIA, buying 200,000 shares at a cost of $5.00 each. So far Smith is in the green, up about 20.4% on their purchase based on today's trading high of $6.02. Maia Biotechnology is trading down about 19.3% on the day Wednesday.
And at Employers Holdings, there was insider buying on Tuesday, by CEO Katherine H. Antonello who bought 13,000 shares at a cost of $37.81 each, for a trade totaling $491,530. This buy marks the first one filed by Antonello in the past twelve months. Employers Holdings is trading up about 1.6% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.