Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At vTv Therapeutics (NASDAQ:VTVT), a filing with the SEC revealed that on Tuesday, Ronald O. Perelman bought 1,879,699 shares of VTVT, at a cost of $1.33 each, for a total investment of $2.5M. So far Perelman is in the green, up about 104.3% on their purchase based on today's trading high of $2.72. vTv Therapeutics is trading trading flat on the day Wednesday. Before this latest buy, Perelman purchased VTVT at 4 other times during the past twelve months, for a total investment of $7.70M at an average of $1.76 per share.
And at New Media Investment Group (NYSE:NEWM), there was insider buying on Tuesday, by Chief Executive Officer Michael Reed who purchased 75,000 shares at a cost of $14.22 each, for a total investment of $1.07M. Before this latest buy, Reed bought NEWM on 2 other occasions during the past year, for a total cost of $914,930 at an average of $16.05 per share. New Media Investment Group is trading up about 1.3% on the day Wednesday. So far Reed is in the green, up about 2.1% on their buy based on today's trading high of $14.51.
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