There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on October 31, Office Depot, Inc.'s Director, W. Scott Hedrick, invested $120,650.00 into 50,000 shares of ODP, for a cost per share of $2.41. Bargain hunters tend to pay particular attention to insider buys like this one, because 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.
In trading on Tuesday, bargain hunters could buy shares of Office Depot, Inc. (NASDAQ:ODP) and achieve a cost basis 14.6% cheaper than Hedrick, with shares changing hands as low as $2.06 per share. Office Depot, Inc. shares are currently trading up about 0.7% on the day. The chart below shows the one year performance of ODP shares, versus its 200 day moving average:
Looking at the chart above, ODP's low point in its 52 week range is $1.75 per share, with $6.25 as the 52 week high point — that compares with a last trade of $2.11. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
ODP operates in the Specialty Retail sector, among companies like Dick's Sporting Goods, Inc (NYSE:DKS) which is trading flat today, and Signet Jewelers Ltd (NYSE:SIG) trading lower by about 0.5%. Below is a three month price history chart comparing the stock performance of ODP, versus DKS and SIG.
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors —
anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset
allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors,
commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow
the performance trail wherever it leads us.
This Article's Word Cloud:ChannelDepotDirectorHedrickNYSEOctoberOfficeScottShareTrialTuesdayaboutassetbelowbuyingcashchangingchartcostdesignedearnedexpecthistoryhuntersinsiderlastlikemakesmanyonlyotherperformancepointportfolioprogramreasonsharesharesstockstocksthattheirtherethistradingversusweekwhatwhichwith
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.