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, Neuronetics (NASDAQ:STIM)'s Director, Glenn P. Muir, made a $680,000 buy of STIM, purchasing 40,000 shares at a cost of $17.00 each. So far Muir is in the green, up about 61.1% on their purchase based on today's trading high of $27.39. Neuronetics is trading up about 1.4% on the day Friday.
And at PICO Holdings (NASDAQ:PICO), there was insider buying on Tuesday, by Director Gregory Bylinsky who bought 31,188 shares for a cost of $11.63 each, for a total investment of $362,825. Before this latest buy, Bylinsky made one other purchase in the past twelve months, buying $13,768 shares at a cost of $11.55 a piece. PICO Holdings is trading up about 2.1% on the day Friday. So far Bylinsky is in the green, up about 6.2% on their buy based on today's trading high of $12.35.
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