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 Wednesday, Cion Investment's CFO & Treasurer, Keith S. Franz, made a $208,800 purchase of CION, buying 15,000 shares at a cost of $13.92 a piece. So far Franz is in the green, up about 5.7% on their buy based on today's trading high of $14.71. Cion Investment is trading off about 0.2% on the day Monday. This purchase marks the first one filed by Franz in the past twelve months.
And also on Wednesday, Director Nicholas J. Valeriani purchased $168,345 worth of Edwards Lifesciences, purchasing 1,500 shares at a cost of $112.23 a piece. Edwards Lifesciences is trading up about 2.7% on the day Monday.
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