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 Elevance Health, a filing with the SEC revealed that on Friday, CEO Gail Boudreaux purchased 2,725 shares of ELV, for a cost of $367.79 each, for a total investment of $1.00M. So far Boudreaux is in the green, up about 5.7% on their buy based on today's trading high of $388.60. Elevance Health is trading up about 2.8% on the day Monday.
And on Thursday, Homer John Livingston III purchased $494,967 worth of FuelCell Energy, purchasing 26,343 shares at a cost of $18.79 a piece. FuelCell Energy is trading up about 4% on the day Monday. So far Livingston III is in the green, up about 6.7% on their purchase based on today's trading high of $20.05.
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