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 Tuesday, Cigna Corp (NYSE:CI)'s Director, Eric J. Foss, made a $1.99M purchase of CI, buying 10,200 shares at a cost of $195.41 a piece. So far Foss is in the green, up about 2.3% on their buy based on today's trading high of $199.84. Cigna Corp is trading up about 1.1% on the day Friday.
And also on Tuesday, Chief Executive Officer Frank J. Williams purchased $227,850 worth of Evolent Health (NYSE:EVH), purchasing 35,000 shares at a cost of $6.51 a piece. Evolent Health is trading up about 9.1% on the day Friday. So far Williams is in the green, up about 14.4% on their buy based on today's trading high of $7.44.
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