Monday 7/15 Insider Buying Report: CTRN, AXR
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.
On Friday, Citi Trends' Interim CEO, Kenneth Duane Seipel, made a $5.38M purchase of CTRN, buying 282,644 shares at a cost of $19.03 each. So far Seipel is in the green, up about 10.6% on their buy based on today's trading high of $21.05. Citi Trends is trading up about 8.7% on the day Monday. This buy marks the first one filed by Seipel in the past year.
And at AMREP, there was insider buying on Thursday, by James H. Dahl who bought 7,000 shares for a cost of $20.10 each, for a trade totaling $140,671. Before this latest buy, Dahl bought AXR at 22 other times during the past year, for a total cost of $2.66M at an average of $20.45 per share. AMREP is trading up about 6.7% on the day Monday. Dahl was up about 9.0% on the purchase at the high point of today's trading session, with AXR trading as high as $21.91 in trading on Monday.
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