Monday 8/31 Insider Buying Report: CTEV, IPGP
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 Claritev, a filing with the SEC revealed that on Friday, CEO & Executive Chair Travis Dalton purchased 6,450 shares of CTEV, for a cost of $38.71 each, for a total investment of $249,664. Dalton was up about 7.7% on the purchase at the high point of today's trading session, with CTEV trading as high as $41.68 in trading on Monday. Claritev is trading up about 0.3% on the day Monday. Before this latest buy, Dalton made one other buy in the past twelve months, purchasing $249,842 shares at a cost of $47.23 a piece.
And at IPG Photonics, there was insider buying on Wednesday, by Director John R. Peeler who bought 2,710 shares for a cost of $73.58 each, for a trade totaling $199,400. This purchase marks the first one filed by Peeler in the past twelve months. IPG Photonics is trading up about 0.3% on the day Monday. Peeler was up about 4.7% on the buy at the high point of today's trading session, with IPGP trading as high as $77.07 at last check today.
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