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 Eyenovia, a filing with the SEC revealed that on Thursday, Stuart M. Grant purchased 784,620 shares of EYEN, at a cost of $2.71 each, for a total investment of $2.13M. Grant was up about 38.3% on the buy at the high point of today's trading session, with EYEN trading as high as $3.75 in trading on Monday. Eyenovia is trading up about 1.6% on the day Monday. Before this latest buy, Grant bought EYEN at 2 other times during the past twelve months, for a total investment of $2.26M at an average of $2.18 per share.
And at Party City Holdco, there was insider buying on Thursday, by Director Norman S. Matthews who bought 250,000 shares at a cost of $2.00 each, for a trade totaling $500,000. Before this latest buy, Matthews made one other buy in the past year, purchasing $493,000 shares for a cost of $2.32 a piece. Party City Holdco is trading up about 10.1% on the day Monday. Matthews was up about 14.0% on the purchase at the high point of today's trading session, with PRTY trading as high as $2.28 at last check today.
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