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, Pactiv Evergreen's Director, Allen Hugli, made a $159,664 purchase of PTVE, buying 10,000 shares at a cost of $15.97 each. Hugli was up about 6.5% on the purchase at the high point of today's trading session, with PTVE trading as high as $17.00 in trading on Wednesday. Pactiv Evergreen is trading up about 2.4% on the day Wednesday. Before this latest buy, Hugli made one other purchase in the past twelve months, buying $174,005 shares at a cost of $11.60 a piece.
And also on Monday, See Remarks George Arison bought $100,764 worth of Shift Technologies, buying 15,000 shares at a cost of $6.72 a piece. This purchase marks the first one filed by Arison in the past twelve months. Shift Technologies is trading up about 11.9% on the day Wednesday. Arison was up about 22.1% on the purchase at the high point of today's trading session, with SFT trading as high as $8.20 in trading on Wednesday.
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