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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Equity Commonwealth's Director, Gerald A. Spector, made a $2.88M purchase of EQC, buying 100,000 shares at a cost of $28.84 a piece. Spector was up about 11.0% on the purchase at the high point of today's trading session, with EQC trading as high as $32.01 at last check today. Equity Commonwealth is trading up about 2.7% on the day Thursday.
And also on Monday, Stuart M. Grant bought $1.86M worth of Eyenovia, buying 903,240 shares at a cost of $2.06 a piece. Before this latest buy, Grant made one other purchase in the past twelve months, buying $397,172 shares for a cost of $3.03 each. Eyenovia is trading down about 0.8% on the day Thursday. So far Grant is in the green, up about 21.5% on their buy based on today's trading high of $2.50.
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