Markets
BID

Insiders Were Right: BID Makes New 52-Week High

Shutterstock photo
Shutterstock photo

Shutterstock photo

In trading on Thursday, shares of Sotheby's (Symbol: BID) touched a new 52-week high of $50.61/share. That's a 102.76% rise, or $25.65 per share from the 52-week low of $24.96 set back on 05/09/2016. That means at today's intraday high, any investor who purchased BID stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, BID has seen 2 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
11/09/2016 Insurance Group, INC. Taikang 21,000 $35.15 $738,189.90
03/06/2017 Olivier Reza Director 10,000 $48.04 $480,400.00
03/10/2017 Adam Chinn EVP, Chief Operating Officer 2,425 $46.60 $113,005.00

The chart below shows where BID has traded over the past year, with the 50-day and 200-day moving averages included.

Sotheby's Moving Averages Chart

In afternoon trading on Thursday, BID shares are changing hands at $50.36/share, slightly below the new 52-week high.

Ten Bargains You Can Buy Cheaper Than The Insiders Did »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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