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 Friday, Porch Group's CEO, Matt Ehrlichman, made a $501,509 purchase of PRCH, buying 278,273 shares at a cost of $1.80 a piece. So far Ehrlichman is in the green, up about 8.2% on their buy based on today's trading high of $1.95. Porch Group is trading up about 7.1% on the day Monday. Before this latest buy, Ehrlichman bought PRCH on 4 other occasions during the past twelve months, for a total investment of $2.41M at an average of $3.64 per share.
And at Cronos Group, there was insider buying on Wednesday, by Director Jason Marc Adler who purchased 156,000 shares for a cost of $2.96 each, for a trade totaling $461,268. Before this latest buy, Adler purchased CRON at 5 other times during the past twelve months, for a total cost of $1.53M at an average of $3.03 per share. Cronos Group is trading up about 0.7% on the day Monday. Investors have the opportunity to pick up CRON at a price even lower than Adler did, with shares trading as low as $2.83 in trading on Monday -- that's 4.1% below Adler's purchase price.
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