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, Gladstone Investment (NASDAQ:GAIN)'s Chief Executive Officer, David Gladstone, made a $1.25M buy of GAIN, purchasing 158,500 shares at a cost of $7.89 each. Gladstone Investment is trading up about 0.7% on the day Wednesday. Before this latest buy, Gladstone made one other purchase in the past year, buying $367,445 shares at a cost of $7.35 a piece.
And on Friday, EVP, Supply Chain Mario Reis purchased $673,920 worth of Coty (NYSE:COTY), purchasing 26,000 shares at a cost of $25.92 each. This purchase marks the first one filed by Reis in the past year. Coty is trading down about 2.1% on the day Wednesday. Reis was up about 20.1% on the buy at the high point of today's trading session, with COTY trading as high as $31.12 in trading on Wednesday.
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