Markets

Top Buys by Top Brass: Executive Vice President Morgan Jr.'s $823.7K Bet on RNST

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money - maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $823.7K by Bartow Morgan Jr., Executive Vice President at Renasant Corp (Symbol: RNST).

Purchased Insider Title Shares Price/Share Value
12/10/2018 Bartow Morgan Jr. Executive Vice President 25,000 $32.95 $823,742.54

Morgan Jr.'s average cost works out to $32.95/share. In trading on Tuesday, bargain hunters could buy shares of Renasant Corp (Symbol: RNST) and achieve a cost basis lower than Morgan Jr., with shares changing hands as low as $32.66 per share. Shares of Renasant Corp were changing hands at $32.61 at last check, trading down about 0.9% on Tuesday. The chart below shows the one year performance of RNST shares, versus its 200 day moving average:

Renasant Corp Chart

Looking at the chart above, RNST's low point in its 52 week range is $32.02 per share, with $49.78 as the 52 week high point - that compares with a last trade of $32.61.

The current annualized dividend paid by Renasant Corp is $0.84/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 12/17/2018. Below is a long-term dividend history chart for RNST, which can be of good help in judging whether the most recent dividend with approx. 2.5% annualized yield is likely to continue.

RNST+Dividend+History+Chart

Click here to find out which other top insider buys by the ''top brass'' you need to know about »

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


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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