Thursday 6/11 Insider Buying Report: BCML, TPR Thursday, June 11, 10:41 AM ET
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 BayCom, a filing with the SEC revealed that on Tuesday, Director Lloyd W. Kendall Jr. bought 10,000 shares of BCML, at a cost of $15.00 each, for a total investment of $150,000. Investors have the opportunity to buy BCML at a price even lower than Kendall Jr. did, with shares trading as low as $13.06 at last check today -- that's 12.9% under Kendall Jr.'s purchase price. BayCom is trading off about 7% on the day Thursday. This purchase marks the first one filed by Kendall Jr. in the past twelve months.
And also on Tuesday, Director John P. Bilbrey purchased $149,776 worth of Tapestry, purchasing 8,800 shares at a cost of $17.02 each. This buy marks the first one filed by Bilbrey in the past year. Tapestry is trading off about 6.9% on the day Thursday. Bargain hunters are able to snag TPR at a price even lower than Bilbrey did, with the stock changing hands as low as $14.01 in trading on Thursday which is 17.7% below Bilbrey's purchase price.
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