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 Thryv Holdings, a filing with the SEC revealed that on Monday, CEO and President Joe Walsh bought 45,000 shares of THRY, at a cost of $35.50 each, for a total investment of $1.6M. Walsh was up about 17.9% on the buy at the high point of today's trading session, with THRY trading as high as $41.86 in trading on Thursday. Thryv Holdings Inc is trading up about 4.2% on the day Thursday. Before this latest buy, Walsh made one other purchase in the past twelve months, buying $3.73M shares for a cost of $18.67 a piece.
And at Wheels Up Experience, there was insider buying on Tuesday, by Director David J. Adelman who bought 200,000 shares at a cost of $5.78 each, for a trade totaling $1.16M. Before this latest buy, Adelman made one other buy in the past twelve months, purchasing $754,000 shares at a cost of $7.54 a piece. Wheels Up Experience is trading down about 6.3% on the day Thursday. Bargain hunters can snag UP even cheaper than Adelman did, with the stock trading as low as $5.01 at last check today which is 13.3% below Adelman's purchase price.
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