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 Stronghold Digital Mining, a filing with the SEC revealed that on Thursday, Chief Executive Officer Gregory A. Beard bought 1,000,000 shares of SDIG, for a cost of $1.00 each, for a total investment of $1M. Investors can snag SDIG even cheaper than Beard did, with the stock changing hands as low as $0.93 in trading on Tuesday -- that's 7.0% under Beard's purchase price. Stronghold Digital Mining is trading off about 2.1% on the day Tuesday. Before this latest buy, Beard made one other purchase in the past twelve months, buying $999,999 shares at a cost of $1.66 a piece.
And at US Bancorp, there was insider buying on Friday, by Director Alan B. Colberg who bought 10,000 shares for a cost of $34.14 each, for a trade totaling $341,380. US Bancorp is trading off about 0.4% on the day Tuesday. Investors are able to bag USB even cheaper than Colberg did, with shares trading as low as $32.27 in trading on Tuesday -- that's 5.5% below Colberg's purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
