As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Friday, Mativ's President, CEO, Julie Schertell, made a $520,560 buy of MATV, purchasing 21,600 shares at a cost of $24.10 a piece. So far Schertell is in the green, up about 4.2% on their buy based on today's trading high of $25.11. Mativ Inc is trading up about 2.6% on the day Monday.
And at iHeartMedia, there was insider buying on Wednesday, by CEO Robert W. Pittman who purchased 54,112 shares for a cost of $9.31 each, for a trade totaling $503,739. Before this latest buy, Pittman bought IHRT at 2 other times during the past year, for a total cost of $1.02M at an average of $15.71 per share. iHeartMedia is trading down about 1.4% on the day Monday. So far Pittman is in the green, up about 9.7% on their buy based on today's trading high of $10.21
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