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 Eaton Vance Enhanced Equity Income Fund, a filing with the SEC revealed that on Monday, Charles Gaffney bought 25,000 shares of EOI, at a cost of $20.11 each, for a total investment of $502,705. Thus far Gaffney is down about 0.8% on the buy, with the stock trading as low as $19.94 at last check today. Eaton Vance Enhanced Equity Income Fund is trading up about 0.4% on the day Tuesday. This purchase marks the first one filed by Gaffney in the past year.
And also on Monday, Director Daniel J. Englander purchased $397,910 worth of Yext, purchasing 76,190 shares at a cost of $5.22 each. Yext is trading up about 5.6% on the day Tuesday. So far Englander is in the green, up about 5.5% on their buy based on today’s trading high of $5.51.
VIDEO: Tuesday 7/14 Insider Buying Report: EOI, YEXT
