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.
At Evo Payments, a filing with the SEC revealed that on Tuesday, David L. Goldman purchased 25,000 shares of EVOP, for a cost of $16.00 each, for a total investment of $400,000. Goldman was up about 24.3% on the buy at the high point of today's trading session, with EVOP trading as high as $19.89 at last check today. Evo Payments is trading up about 1.4% on the day Friday.
And at Cannae Holdings, there was insider buying on Wednesday, by Director Hugh R. Harris who bought 15,000 shares at a cost of $19.87 each, for a total investment of $298,032. This purchase marks the first one filed by Harris in the past year. Cannae Holdings is trading up about 0.6% on the day Friday. Harris was up about 2.6% on the buy at the high point of today's trading session, with CNNE trading as high as $20.38 in trading on Friday.
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