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 Tuesday, Eyenovia's , Stuart M. Grant, made a $535,224 purchase of EYEN, buying 133,806 shares at a cost of $4.00 a piece. Grant was up about 10.2% on the buy at the high point of today's trading session, with EYEN trading as high as $4.41 at last check today. Eyenovia is trading up about 7.1% on the day Wednesday. Before this latest buy, Grant purchased EYEN at 3 other times during the past year, for a total investment of $589,958 at an average of $4.37 per share.
And at Intel, there was insider buying on Monday, by Director Frank D. Yeary who purchased 10,000 shares at a cost of $49.66 each, for a trade totaling $496,595. Intel is trading up about 0.1% on the day Wednesday. Bargain hunters have the opportunity to snag INTC at a price even lower than Yeary did, with the stock trading as low as $48.22 in trading on Wednesday which is 2.9% below Yeary's purchase price.
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