Friday 2/20 Insider Buying Report: CMRC, CSPI
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, Commerce.com's Executive Chair, Ellen F. Siminoff, made a $294,080 buy of CMRC, purchasing 100,000 shares at a cost of $2.94 each. So far Siminoff is in the green, up about 17.3% on their purchase based on today's trading high of $3.45. Commerce.com is trading up about 6.5% on the day Friday.
And on Thursday, Joseph R. Nerges purchased $101,525 worth of CSPI, purchasing 11,012 shares at a cost of $9.22 a piece. Before this latest buy, Nerges purchased CSPI at 6 other times during the past twelve months, for a total investment of $193,189 at an average of $13.60 per share. CSPI is trading down about 2.6% on the day Friday. So far Nerges is in the green, up about 11.2% on their purchase based on today's trading high of $10.25.
VIDEO: Friday 2/20 Insider Buying Report: CMRC, CSPI