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 Thursday, Yext (NYSE:YEXT)'s Director, Michael Walrath, made a $999,987 buy of YEXT, purchasing 64,987 shares at a cost of $15.39 each. So far Walrath is in the green, up about 4.0% on their buy based on today's trading high of $16.00. Yext is trading trading flat on the day Friday. This buy marks the first one filed by Walrath in the past year.
And at Covenant Transportation Group (NASDAQ:CVTI), there was insider buying on Tuesday, by President of Subsidiary John A. Tweed who purchased 21,341 shares at a cost of $21.00 each, for a total investment of $448,223. This buy marks the first one filed by Tweed in the past twelve months. Covenant Transportation Group is trading up about 3.6% on the day Friday. Investors can snag CVTI even cheaper than Tweed did, with the stock changing hands as low as $20.37 in trading on Friday which is 3.0% under Tweed's purchase price.
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