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.
At HighPeak Energy, a filing with the SEC revealed that on Tuesday, President Michael L. Hollis purchased 43,002 shares of HPK, at a cost of $21.96 each, for a total investment of $944,443. So far Hollis is in the green, up about 5.0% on their purchase based on today's trading high of $23.05. HighPeak Energy is trading off about 2.3% on the day Wednesday. Before this latest buy, Hollis purchased HPK on 2 other occasions during the past year, for a total cost of $136,805 at an average of $16.09 per share.
And at Lions Gate Entertainment, there was insider buying on Tuesday, by Director Harry Sloan who purchased 100,000 shares at a cost of $6.40 each, for a trade totaling $640,000. Before this latest buy, Sloan made one other purchase in the past twelve months, buying $635,800 shares for a cost of $12.72 a piece. Lions Gate Entertainment is trading up about 5.1% on the day Wednesday. So far Sloan is in the green, up about 8.2% on their buy based on today's trading high of $6.92.
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