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CMRG Trading Below CEO's Recent Buy Price

By Market News Video Staff, Tuesday, November 29, 1:55 PM ET
Play Video: One Reason For Insiders to Buy


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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 November 23, Casual Male Retail Group's CEO, David A. Levin, invested $125,200 into 40,000 shares of CMRG, for a cost per share of $3.13. 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 Casual Male Retail Group Inc (CMRG) and achieve a cost basis even cheaper than Levin, with shares changing hands as low as $3.05 per share. Casual Male Retail Group Inc shares are currently trading down about 4.1% on the day. The chart below shows the one year performance of CMRG shares, versus its 200 day moving average:

Casual Male Retail Group Inc Chart

Looking at the chart above, CMRG's low point in its 52 week range is $2.98 per share, with $5.52 as the 52 week high point that compares with a last trade of $3.06. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
11/21/2011 Seymour Holtzman Director 50,500 $3.06 $154,530.00
11/22/2011 David A. Levin President, CEO 40,000 $3.13 $125,200.00
11/23/2011 Seymour Holtzman Director 13,000 $3.07 $39,910.00

CMRG operates in the Apparel Stores sector, among companies like TJX Companies, Inc. (NYSE:TJX) which is up about 0.8% today, and Limited Brands Inc. (LTD) trading up by about 1.6%. Below is a three month price history chart comparing the stock performance of CMRG, versus TJX and LTD.

CMRG,TJX,LTD Relative Performance Chart


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