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 Monday, Core Molding Technologies' EVP, Human Resources, Renee R. Anderson, made a $1.76M buy of CMT, purchasing 400 shares at a cost of $4400.00 each. Bargain hunters can buy CMT even cheaper than Anderson did, with the stock trading as low as $12.15 at last check today which is 99.7% below Anderson's purchase price. Core Molding Technologies is trading up about 6% on the day Thursday. Before this latest buy, Anderson bought CMT on 2 other occasions during the past twelve months, for a total investment of $39,870 at an average of $3.47 per share.
And at Summit Financial Group, there was insider buying on Wednesday, by Director Gary L. Hinkle who purchased 4,979 shares for a cost of $21.17 each, for a trade totaling $105,396. Before this latest buy, Hinkle purchased SMMF at 5 other times during the past twelve months, for a total cost of $453,502 at an average of $20.75 per share. Summit Financial Group is trading up about 0.3% on the day Thursday.
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