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.
At eHealth, a filing with the SEC revealed that on Wednesday, SVP, Chief Financial Officer Derek N. Yung purchased 2,000 shares of EHTH, for a cost of $55.36 each, for a total investment of $110,720. So far Yung is in the green, up about 8.4% on their purchase based on today's trading high of $59.99. eHealth is trading down about 2.5% on the day Monday. This purchase marks the first one filed by Yung in the past year.
And also on Wednesday, EVP, Chief Financial Officer Keith Koci purchased $103,680 worth of Cleveland-Cliffs, purchasing 9,000 shares at a cost of $11.52 each. Before this latest buy, Koci made one other buy in the past year, purchasing $35,936 shares at a cost of $11.23 a piece. Cleveland-Cliffs is trading off about 3.2% on the day Monday. Investors are able to grab CLF at a price even lower than Koci did, with shares changing hands as low as $10.52 at last check today — that's 8.7% below Koci's purchase price.
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