Monday 5/11 Insider Buying Report: BCML, NCLH
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.
At BayCom, a filing with the SEC revealed that on Wednesday, Executive Vice Chair William J. Black bought 33,082 shares of BCML, for a cost of $30.17 each, for a total investment of $998,235. So far Black is in the green, up about 2.7% on their buy based on today's trading high of $31.00. BayCom is trading up about 0.1% on the day Monday.
And on Thursday, Director Zillah Byng-thorne bought $521,394 worth of Norwegian Cruise Line Holdings, buying 29,467 shares at a cost of $17.69 a piece. Before this latest buy, Byng-thorne made one other buy in the past year, purchasing $525,335 shares at a cost of $18.11 each. Norwegian Cruise Line Holdings is trading off about 2.4% on the day Monday. Bargain hunters are able to pick up NCLH at a price even lower than Byng-thorne did, with shares trading as low as $16.61 in trading on Monday which is 6.1% under Byng-thorne's purchase price.
VIDEO: Monday 5/11 Insider Buying Report: BCML, NCLH