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, Evolus' Director, Simone Blank, made a $4.13M buy of EOLS, purchasing 295,024 shares at a cost of $14.00 each. So far Blank is in the green, up about 9.4% on their purchase based on today's trading high of $15.32. Evolus is trading up about 0.5% on the day Tuesday.
And at Entercom Communications , there was insider buying on Monday, by Chairman Emeritus Joseph M. Field who purchased 400,000 shares for a cost of $6.53 each, for a total investment of $2.61M. Before this latest buy, Field purchased ETM on 17 other occasions during the past year, for a total cost of $38.67M at an average of $8.83 per share. Entercom Communications is trading up about 0.1% on the day Tuesday. Field was up about 3.6% on the buy at the high point of today's trading session, with ETM trading as high as $6.77 at last check today.
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