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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Evolus, a filing with the SEC revealed that on Monday, Director Kristine Romine bought 40,562 shares of EOLS, for a cost of $19.25 each, for a total investment of $780,818. Investors can bag EOLS even cheaper than Romine did, with the stock changing hands as low as $16.62 in trading on Thursday which is 13.7% below Romine's purchase price. Evolus is trading down about 2.9% on the day Thursday. Before this latest buy, Romine purchased EOLS at 5 other times during the past twelve months, for a total cost of $727,260 at an average of $17.50 per share.
And at Otelco, there was insider buying on Wednesday, by Ira Sochet who bought 27,941 shares at a cost of $15.32 each, for a trade totaling $428,100. Before this latest buy, Sochet purchased OTEL on 23 other occasions during the past year, for a total cost of $6.71M at an average of $15.81 per share. Otelco is trading up about 0.5% on the day Thursday.
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