Thursday 7/2 Insider Buying Report: FIVE, VIRC
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, Five Below's Director, Robert Lynch, made a $93,309 buy of FIVE, purchasing 530 shares at a cost of $176.06 a piece. Lynch was up about 5.5% on the buy at the high point of today's trading session, with FIVE trading as high as $185.79 at last check today. Five Below is trading off about 0.7% on the day Thursday.
And also on Monday, Executive Vice President Douglas A. Virtue purchased $8,400 worth of Virco Manufacturing, purchasing 1,400 shares at a cost of $6.00 a piece. Before this latest buy, Virtue bought VIRC on 3 other occasions during the past twelve months, for a total cost of $200,983 at an average of $6.62 per share. Virco Manufacturing is trading down about 2.5% on the day Thursday. Virtue was up about 8.4% on the buy at the high point of today's trading session, with VIRC trading as high as $6.50 at last check today.
VIDEO: Thursday 7/2 Insider Buying Report: FIVE, VIRC