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 two noteworthy recent insider buys.
On Thursday, Cyclo Therapeutics's Chief Executive Officer, N. Scott Fine, made a $212,575 buy of CYTH, purchasing 299,402 shares at a cost of $0.71 each. Fine was up about 39.4% on the purchase at the high point of today's trading session, with CYTH trading as high as $0.99 in trading on Monday. Cyclo Therapeutics is trading up about 15.4% on the day Monday.
And at First Bancorp, there was insider buying on Friday, by Director Kimberly Swan who bought 1,958 shares at a cost of $25.08 each, for a total investment of $49,109. Before this latest buy, Swan made one other purchase in the past twelve months, buying $29,456 shares for a cost of $29.46 a piece. First Bancorp is trading up about 0.3% on the day Monday. So far Swan is in the green, up about 1.1% on their purchase based on today's trading high of $25.35.
VIDEO: Monday 4/24 Insider Buying Report: CYTH, FNLC
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