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 Yext, a filing with the SEC revealed that on Tuesday, Director Michael Walrath bought 85,429 shares of YEXT, at a cost of $16.42 each, for a total investment of $1.40M. So far Walrath is in the green, up about 5.0% on their buy based on today's trading high of $17.24. Yext is trading up about 3.5% on the day Thursday. Before this latest buy, Walrath purchased YEXT at 2 other times during the past twelve months, for a total investment of $2.33M at an average of $14.15 per share.
And on Wednesday, Ronald O. Perelman purchased $1.00M worth of vTv Therapeutics, purchasing 606,061 shares at a cost of $1.65 each. Before this latest buy, Perelman purchased VTVT at 15 other times during the past year, for a total investment of $26.26M at an average of $1.56 per share. vTv Therapeutics is trading up about 7.4% on the day Thursday. Bargain hunters can bag VTVT at a price even lower than Perelman did, with shares trading as low as $1.33 in trading on Thursday — that's 19.2% under Perelman's purchase price.
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