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.
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, Rivian Automotive's Director, Sanford Harold Schwartz, made a $663,000 purchase of RIVN, buying 8,500 shares at a cost of $78.00 each.
Schwartz was up about 79.4% on the buy at the high point of today's trading session, with RIVN trading as high as $139.90 at last check today.
Rivian Automotive is trading up about 9.1% on the day Friday.
This buy marks the first one filed by Schwartz in the past year.
And at Net 1 UEPS Technologies, there was insider buying on Tuesday, by Group Chief Executive Officer Christopher G.
.
Meyer who bought 104,520 shares at a cost of $5.62 each, for a total investment of $587,402.
Before this latest buy, Meyer purchased UEPS on 2 other occasions during the past year, for a total cost of $71,243 at an average of $5.59 per share.
Net 1 UEPS Technologies is trading down about 2.3% on the day Friday.
Bargain hunters are able to pick up UEPS even cheaper than Meyer did, with shares trading as low as $4.99 at last check today -- that's 11.2% under Meyer's purchase price.