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 Cigna, a filing with the SEC revealed that on Monday, CEO David Cordani purchased 32,509 shares of CI, at a cost of $155.17 each, for a total investment of $5.04M. Cordani was up about 6.5% on the purchase at the high point of today's trading session, with CI trading as high as $165.23 in trading on Tuesday. Cigna is trading up about 1.7% on the day Tuesday.
And at At Home Group, there was insider buying on Monday, by Chairman, CEO and President Lewis L. Bird III who bought 64,005 shares for a cost of $7.81 each, for a total investment of $500,193. This purchase marks the first one filed by Bird III in the past twelve months. At Home Group is trading up about 0.2% on the day Tuesday.
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