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 two noteworthy recent insider buys.
On Wednesday, The Bancorp's Director, Daniela Mielke, made a $149,606 buy of TBBK, purchasing 3,315 shares at a cost of $45.13 each. Investors have the opportunity to buy TBBK even cheaper than Mielke did, with the stock changing hands as low as $42.06 at last check today which is 6.8% under Mielke's purchase price. The Bancorp is trading down about 1.3% on the day Monday. Before this latest buy, Mielke purchased TBBK on 5 other occasions during the past year, for a total cost of $221,031 at an average of $33.39 per share.
And on Thursday, CEO Patrick P. Gelsinger bought $119,671 worth of Intel, buying 2,800 shares at a cost of $42.74 a piece. Before this latest buy, Gelsinger bought INTC on 6 other occasions during the past year, for a total investment of $1.13M at an average of $32.43 per share. Intel is trading up about 0.4% on the day Monday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
