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.
On Thursday, Vaxart (VXRT)'s Director, Michael J. Finney, made a $200,000 buy of VXRT, purchasing 181,818 shares at a cost of $1.10 a piece. Bargain hunters are able to pick up VXRT even cheaper than Finney did, with shares changing hands as low as $0.85 at last check today which is 22.7% below Finney's purchase price. Vaxart is trading off about 2.9% on the day Monday. Before this latest buy, Finney made one other purchase in the past year, buying $17,021 shares at a cost of $3.40 a piece.
And at Pioneer Municipal High Income Trust (MHI), there was insider buying on Wednesday, by Treasurer Mark Edward Bradley who bought 1,000 shares at a cost of $11.94 each, for a trade totaling $11,940. This purchase marks the first one filed by Bradley in the past twelve months. Pioneer Municipal High Income Trust is trading up about 0.2% on the day Monday. So far Bradley is in the green, up about 0.7% on their purchase based on today's trading high of $12.02.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.