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 Membership Collective Group, a filing with the SEC revealed that on Friday, Mark Ein bought 456,936 shares of MCG, for a cost of $3.91 each, for a total investment of $1.79M. So far Ein is in the green, up about 15.8% on their purchase based on today's trading high of $4.53. Membership Collective Group is trading up about 10.9% on the day Tuesday. This purchase marks the first one filed by Ein in the past twelve months.
And on Thursday, Director Jeffrey Keenan bought $505,706 worth of Mativ, buying 24,474 shares at a cost of $20.66 a piece. Before this latest buy, Keenan purchased MATV at 13 other times during the past twelve months, for a total investment of $2.16M at an average of $23.76 per share. Mativ is trading up about 5% on the day Tuesday. Keenan was up about 3.3% on the purchase at the high point of today's trading session, with MATV trading as high as $21.34 in trading on Tuesday.
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