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, Mattel (NASDAQ:MAT)'s Director, Dean A. Scarborough, made a $1.03M purchase of MAT, buying 47,000 shares at a cost of $21.95 a piece. So far Scarborough is in the green, up about 2.5% on their buy based on today's trading high of $22.50. Mattel is trading up about 0.1% on the day Thursday.
And on Wednesday, Director Sol J. Barer bought $154,340 worth of Aevi Genomic Medicine (GNMX), buying 100,000 shares at a cost of $1.54 each. Aevi Genomic Medicine is trading up about 2.9% on the day Thursday. Barer was up about 4.3% on the buy at the high point of today's trading session, with GNMX trading as high as $1.61 at last check today.
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