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.
At Applied Therapeutics, a filing with the SEC revealed that on Friday, Director Stacy J. Kanter purchased 6,500 shares of APLT, for a cost of $22.86 each, for a total investment of $148,590. Kanter was up about 7.0% on the buy at the high point of today's trading session, with APLT trading as high as $24.46 in trading on Wednesday. Applied Therapeutics is trading up about 9.1% on the day Wednesday.
And on Monday, Director Joseph P. Beebe purchased $99,104 worth of Univest Financial, purchasing 4,000 shares at a cost of $24.78 each. Univest Financial is trading up about 1.3% on the day Wednesday. So far Beebe is in the green, up about 5.4% on their purchase based on today's trading high of $26.11.
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