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, Take-Two Interactive Software's Director, Paul E. Viera, made a $10.05M purchase of TTWO, buying 75,000 shares at a cost of $133.93 a piece. Viera was up about 2.8% on the buy at the high point of today's trading session, with TTWO trading as high as $137.62 in trading on Wednesday. Take-Two Interactive Software is trading up about 2.1% on the day Wednesday. This purchase marks the first one filed by Viera in the past year.
And at Unifi, there was insider buying on Tuesday, by Robert J. Bishop who purchased 22,459 shares for a cost of $32.35 each, for a trade totaling $726,604. Before this latest buy, Bishop bought UFI at 17 other times during the past year, for a total cost of $6.52M at an average of $33.28 per share. Unifi is trading up about 0.2% on the day Wednesday. Bargain hunters can buy UFI even cheaper than Bishop did, with the stock changing hands as low as $32.01 at last check today which is 1.1% below Bishop's purchase price.
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