Thursday 9/3 Insider Buying Report: CAVA, PNFP
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At CAVA Group, a filing with the SEC revealed that on Monday, Chief Operations Officer Douglas W. Thompson purchased 6,500 shares of CAVA, at a cost of $66.52 each, for a total investment of $432,380. Investors are able to buy CAVA at a price even lower than Thompson did, with the stock trading as low as $61.29 in trading on Thursday which is 7.9% under Thompson's purchase price. CAVA Group is trading off about 0.4% on the day Thursday. Before this latest buy, Thompson made one other purchase in the past year, buying $317,800 shares at a cost of $79.45 a piece.
And at Pinnacle Financial Partners, there was insider buying on Tuesday, by Chief Executive Officer Kevin S. Blair who bought 2,565 shares at a cost of $97.48 each, for a trade totaling $250,036. This buy marks the first one filed by Blair in the past twelve months. Pinnacle Financial Partners is trading up about 1.2% on the day Thursday. So far Blair is in the green, up about 4.3% on their buy based on today's trading high of $101.70.
VIDEO: Thursday 9/3 Insider Buying Report: CAVA, PNFP 