SPFI

Thursday 11/7 Insider Buying Report: SPFI, EG

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 South Plains Financial, a filing with the SEC revealed that on Tuesday, Director Noe G. Valles purchased 50,000 shares of SPFI, at a cost of $33.50 each, for a total investment of $1.68M. Valles was up about 18.3% on the purchase at the high point of today's trading session, with SPFI trading as high as $39.62 at last check today. South Plains Financial is trading down about 3.6% on the day Thursday. Before this latest buy, Valles purchased SPFI at 4 other times during the past year, for a total investment of $4.56M at an average of $26.82 per share.

And at Everest Group, there was insider buying on Monday, by Director William F. Galtney Jr. who bought 2,870 shares at a cost of $348.64 each, for a trade totaling $1.00M. Everest Group is trading off about 0.5% on the day Thursday. Galtney Jr. was up about 6.1% on the purchase at the high point of today's trading session, with EG trading as high as $370.00 at last check today.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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