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 HealthEquity, a filing with the SEC revealed that on Thursday, Director Stuart B. Parker purchased 25,000 shares of HQY, for a cost of $42.82 each, for a total investment of $1.07M. HealthEquity is trading up about 2.2% on the day Friday.
And at JOANN, there was insider buying on Tuesday, by CEO Wade D. Miquelon who bought 55,000 shares for a cost of $9.33 each, for a total investment of $513,156. Before this latest buy, Miquelon bought JOAN at 2 other times during the past twelve months, for a total cost of $1.20M at an average of $11.70 per share. JOANN is trading up about 2.8% on the day Friday. So far Miquelon is in the green, up about 18.3% on their buy based on today’s trading high of $11.04.
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