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 Monday, Claritev's EVP&CFO, Douglas Michael Garis, made a $632,235 buy of CTEV, purchasing 28,749 shares at a cost of $21.99 each. So far Garis is in the green, up about 23.2% on their buy based on today's trading high of $27.09. Claritev is trading up about 0.1% on the day Thursday.
And also on Monday, Chief Executive Officer Scott Andrew Smith purchased $536,262 worth of Viatris, purchasing 60,000 shares at a cost of $8.94 a piece. This purchase marks the first one filed by Smith in the past twelve months. Viatris is trading up about 1.8% on the day Thursday. Investors are able to grab VTRS even cheaper than Smith did, with the stock changing hands as low as $8.42 at last check today -- that's 5.8% below Smith's purchase price.
VIDEO: Thursday 5/15 Insider Buying Report: CTEV, VTRS
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