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 Tuesday, Dave & Busters Entertainment's Director, Michael J. Griffith, made a $196,598 buy of PLAY, purchasing 5,000 shares at a cost of $39.32 a piece. Dave & Busters Entertainment is trading up about 0.2% on the day Wednesday. This purchase marks the first one filed by Griffith in the past twelve months.
And on Saturday, Director James George Robinson bought $151,568 worth of Nymox Pharmaceutical, buying 10,000 shares at a cost of $15.16 each. Before this latest buy, Robinson bought NYMX at 33 other times during the past year, for a total investment of $429,401 at an average of $1.71 per share. Nymox Pharmaceutical is trading down about 3.3% on the day Wednesday. Investors can bag NYMX at a price even lower than Robinson did, with shares changing hands as low as $1.39 in trading on Wednesday which is 90.8% under Robinson's purchase price.
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