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 Thursday, Alight's Director, Richard N. Massey, made a $322,490 purchase of ALIT, buying 50,000 shares at a cost of $6.45 each. So far Massey is in the green, up about 5.4% on their purchase based on today's trading high of $6.80. Alight is trading up about 2.5% on the day Tuesday. Before this latest buy, Massey bought ALIT on 2 other occasions during the past twelve months, for a total investment of $1.65M at an average of $8.27 per share.
And at Praxis Precision Medicines, there was insider buying on Thursday, by Director Jill Desimone who purchased 14,500 shares for a cost of $1.75 each, for a total investment of $25,375. This purchase marks the first one filed by Desimone in the past twelve months. Praxis Precision Medicines is trading trading flat on the day Tuesday. Bargain hunters can bag PRAX even cheaper than Desimone did, with shares changing hands as low as $1.36 at last check today -- that's 22.3% below Desimone's purchase price.
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