Thursday 3/7 Insider Buying Report: SLRC, SILK
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 Tuesday, SLR Investment's Michael S. Gross, made a $1.31M buy of SLRC, purchasing 86,700 shares at a cost of $15.16 each. So far Gross is in the green, up about 3.7% on their buy based on today's trading high of $15.72.
SLR Investment is trading up about 1.8% on the day Thursday. Before this latest buy, Gross bought SLRC at 4 other times during the past twelve months, for a total cost of $1.97M at an average of $15.27 per share.
And at Silk Road Medical, there was insider buying on Tuesday, by Kevin J. Ballinger who purchased 11,700 shares at a cost of $16.99 each, for a total investment of $198,783. Silk Road Medical is trading up about 5.5% on the day Thursday. Bargain hunters are able to pick up SILK even cheaper than Ballinger did, with the stock trading as low as $16.43 at last check today -- that's 3.3% below Ballinger's purchase price.
VIDEO: Thursday 3/7 Insider Buying Report: SLRC, SILK