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.
On Wednesday, Sight Sciences' Director, Staffan Encrantz, made a $10.97M buy of SGHT, purchasing 525,000 shares at a cost of $20.89 a piece. Sight Sciences is trading up about 7.7% on the day Thursday. Before this latest buy, Encrantz made one other purchase in the past twelve months, buying $12.65M shares at a cost of $24.00 each.
And on Monday, EVP & Chief Financial Officer James M. Head purchased $1.30M worth of MultiPlan, purchasing 300,000 shares at a cost of $4.34 each. MultiPlan is trading up about 6.8% on the day Thursday. Investors are able to pick up MPLN at a price even lower than Head did, with shares changing hands as low as $4.09 at last check today which is 5.8% under Head's purchase price.
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