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 Graybug Vision, a filing with the SEC revealed that on Tuesday, Director Christy L. Shaffer purchased 18,750 shares of GRAY, for a cost of $16.00 each, for a total investment of $300,000. Bargain hunters are able to buy GRAY at a price even lower than Shaffer did, with shares trading as low as $12.66 at last check today which is 20.8% below Shaffer's purchase price. Graybug Vision is trading trading flat on the day Thursday.
And on Monday, Anthony Arnold purchased $147,919 worth of ProSight Global, purchasing 8,083 shares at a cost of $18.30 a piece. This buy marks the first one filed by Arnold in the past year. ProSight Global is trading up about 0.4% on the day Thursday. Bargain hunters can bag PROS at a price even lower than Arnold did, with the stock changing hands as low as $11.28 at last check today which is 38.4% below Arnold's purchase price.
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