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 one noteworthy recent insider buy.
On Monday, Chief Strategy Officer James A. Lahaise bought $330,287 worth of Ameris Bancorp, buying 10,000 shares at a cost of $33.03 each. Ameris Bancorp is trading up about 3.1% on the day Wednesday. Investors can grab ABCB at a price even lower than Lahaise did, with shares trading as low as $30.82 at last check today which is 6.7% below Lahaise's purchase price.
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