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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, Hyliion Holdings' Director, Vincent T. Cubbage, made a $170,000 buy of HYLN, purchasing 50,000 shares at a cost of $3.40 each. Bargain hunters are able to buy HYLN at a price even lower than Cubbage did, with the stock changing hands as low as $3.25 in trading on Tuesday which is 4.4% under Cubbage's purchase price. Hyliion Holdings Corp is trading down about 3.9% on the day Tuesday. This purchase marks the first one filed by Cubbage in the past twelve months.
And also on Thursday, William Paul Livek bought $142,980 worth of Red Violet, buying 2,000 shares at a cost of $71.49 a piece. This purchase marks the first one filed by Livek in the past twelve months. Red Violet Inc is trading up about 2.4% on the day Tuesday. Livek was up about 6.3% on the buy at the high point of today's trading session, with RDVT trading as high as $75.99 at last check today.
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