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.
At Concentrix, a filing with the SEC revealed that on Thursday, CEO Christopher A. Caldwell bought 1,000 shares of CNXC, at a cost of $37.07 each, for a total investment of $37,070. Caldwell was up about 7.5% on the purchase at the high point of today's trading session, with CNXC trading as high as $39.84 at last check today. Concentrix is trading off about 3.9% on the day Tuesday. Before this latest buy, Caldwell purchased CNXC at 5 other times during the past twelve months, for a total cost of $262,841 at an average of $43.81 per share.
And at Parke Bancorp, there was insider buying on Thursday, by CEO Vito S. Pantilione who purchased 1,000 shares at a cost of $27.63 each, for a total investment of $27,630. Before this latest buy, Pantilione made one other purchase in the past twelve months, buying $20,647 shares at a cost of $18.77 each. Parke Bancorp is trading trading flat on the day Tuesday. Pantilione was up about 4.4% on the buy at the high point of today's trading session, with PKBK trading as high as $28.86 in trading on Tuesday.
VIDEO: Tuesday 2/3 Insider Buying Report: CNXC, PKBK
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