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 Monday, Actuant (ATU)'s EVP-Human Resources, Eugene Edward Skogg, made a $244,600 purchase of ATU, buying 10,000 shares at a cost of $24.46 each. Bargain hunters can grab ATU at a price even lower than Skogg did, with the stock trading as low as $23.76 at last check today -- that's 2.9% below Skogg's purchase price. Actuant is trading up about 1.9% on the day Thursday. Before this latest buy, Skogg purchased ATU on 6 other occasions during the past twelve months, for a total cost of $1.46M at an average of $23.38 per share.
And at CymaBay Therapeutics (NASDAQ:CBAY), there was insider buying on Tuesday, by Chief Financial Officer Sujal Shah who purchased 55,000 shares for a cost of $1.39 each, for a trade totaling $76,450. Before this latest buy, Shah made one other buy in the past twelve months, purchasing $34,000 shares at a cost of $3.40 a piece. CymaBay Therapeutics is trading up about 6.8% on the day Thursday. Shah was up about 11.5% on the buy at the high point of today's trading session, with CBAY trading as high as $1.55 at last check today.
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