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 Friday, Veritone's Director, G. Louis Graziadio III, made a $1.17M purchase of VERI, buying 79,826 shares at a cost of $14.64 each. Bargain hunters are able to snag VERI at a price even lower than Graziadio III did, with the stock changing hands as low as $11.26 in trading on Wednesday which is 23.1% under Graziadio III's purchase price. Veritone is trading up about 5.3% on the day Wednesday. Before this latest buy, Graziadio III made one other purchase in the past year, buying $3.34M shares at a cost of $15.19 each.
And also on Friday, Director Jeffrey Keenan bought $704,961 worth of Schweitzer-Mauduit International, buying 18,000 shares at a cost of $39.16 a piece. Schweitzer-Mauduit International, is trading off about 2.3% on the day Wednesday. Bargain hunters have the opportunity to grab SWM even cheaper than Keenan did, with shares changing hands as low as $37.51 at last check today which is 4.2% under Keenan's purchase price.
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