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 one noteworthy recent insider buy.
At PHINIA, a filing with the SEC revealed that on Wednesday, CEO Brady D. Ericson purchased 10,000 shares of PHIN, for a cost of $39.73 each, for a total investment of $397,327. Ericson was up about 8.1% on the purchase at the high point of today's trading session, with PHIN trading as high as $42.97 in trading on Friday. PHINIA Inc is trading up about 3.7% on the day Friday.
VIDEO: Friday 5/2 Insider Buying Report: PHIN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
