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 cash to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Thursday, Chief Financial Officer William C. Losch III bought $398,382 worth of Live Oak Bancshares, buying 6,250 shares at a cost of $63.74 a piece. Before this latest buy, Losch III made one other buy in the past twelve months, purchasing $199,768 shares at a cost of $57.08 each. Live Oak Bancshares is trading up about 4% on the day Monday. Bargain hunters can buy LOB at a price even lower than Losch III did, with the stock changing hands as low as $61.22 at last check today -- that's 4.0% under Losch III's purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
