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 18, Cenveo Inc's CEO, Robert G. Burton Sr., invested $198,523.00 into 65,000 shares of CVO, for a cost per share of $3.05. 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 Cenveo Inc (NYSE:CVO) and achieve a cost basis 5.0% cheaper than Burton Sr., with shares changing hands as low as $2.90 per share. Cenveo Inc shares are currently trading off about 1% on the day. The chart below shows the one year performance of CVO shares, versus its 200 day moving average:
Looking at the chart above, CVO's low point in its 52 week range is $2.64 per share, with $6.85 as the 52 week high point — that compares with a last trade of $2.97. 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
06/10/2011
Robert G. Burton Sr.
Chairman and CEO
17,000
$5.88
$99,931.10
08/11/2011
Harry Vinson
President, Print Svs. Group
3,000
$4.21
$12,630.00
08/11/2011
Robert Obernier
Director
6,000
$4.21
$25,258.40
08/12/2011
Mark S. Hiltwein
EVP and CFO
3,500
$4.22
$14,770.00
08/12/2011
Robert G. Burton Sr.
Chairman and CEO
60,000
$4.13
$248,100.00
08/12/2011
Ian R. Scheinmann
SVP, Legal Affairs
2,500
$4.12
$10,291.00
08/23/2011
Mark J. Griffin
Director
2,500
$3.70
$9,247.10
08/24/2011
Harry Vinson
President, Print Svs. Group
3,000
$3.95
$11,849.89
08/24/2011
Dean E. Cherry
President-Envelope Group
5,000
$3.90
$19,500.00
09/09/2011
Harry Vinson
President, Print Svs. Group
2,000
$3.69
$7,379.96
09/09/2011
Ian R. Scheinmann
SVP, Legal Affairs
1,500
$3.76
$5,640.00
09/09/2011
Mark S. Hiltwein
EVP and CFO
900
$3.69
$3,321.00
11/11/2011
Dean E. Cherry
Executive VP, Operations
12,800
$3.52
$45,032.00
11/18/2011
Robert G. Burton Sr.
Chairman and CEO
65,000
$3.05
$198,523.00
CVO operates in the Publishing & Printing sector, among companies like Washington Post Co. (NYSE:WPO) which is up about 0.7% today, and Gannett Co Inc (NYSE:GCI) trading lower by about 0.8%. Below is a three month price history chart comparing the stock performance of CVO, versus WPO and GCI.
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