Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at a recent insider purchase of note.
On Tuesday, OLB Group's Vice President, Patrick G. Smith, made a $300,000 purchase of OLB, buying 392,106 shares at a cost of $0.77 a piece. OLB Group is trading up about 11.4% on the day Friday. Before this latest buy, Smith made one other buy in the past year, purchasing $1,645 shares at a cost of $1.00 each.
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