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Bargain Hunters Take Note: Insider Cluster-Buying At SUBK

By Market News Video Staff, Wednesday, December 21, 10:46 AM ET
Play Video: The Importance of Insider Buying

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A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Suffolk Bancorp (SUBK), 3 different insiders purchased 2,333 shares at an average price of $8.12/share, for a total of $18,950, with the most recent purchase on December 19, 2011.

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. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":

Purchased Insider Title Shares Price/Share Value
11/28/2011 John D. Stark Jr. Director 384 $7.74 $2,975.00
11/28/2011 Shea Susan V. B. O Director 420 $7.74 $3,250.00
11/28/2011 J. Gordon Huszagh Director 420 $7.74 $3,250.00
12/19/2011 John D. Stark Jr. Director 348 $8.55 $2,975.00
12/19/2011 Shea Susan V. B. O Director 380 $8.55 $3,250.00
12/19/2011 J. Gordon Huszagh Director 380 $8.55 $3,250.00

The chart below shows the one year performance of SUBK shares, versus its 200 day moving average. Note that SUBK's low point in its 52 week range is $7.51 per share, with $25.94 as the 52 week high point that compares with a last trade of $9.87, with shares currently trading up about 11.4% on the day.

Suffolk Bancorp Chart

SUBK operates in the Banking & Savings sector, among companies like BanColombia, S.A. (NYSE:CIB) which is up about 0.2% today, and Deutsche Bank AG (NYSE:DB) trading lower by about 1.1%. Below is a three month price history chart comparing the stock performance of SUBK, versus CIB and DB.

SUBK,CIB,DB Relative Performance Chart


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This Article's Word Cloud:   BanColombia   Bancorp   Bank   Banking   Below   Channel   December   Deutsche   Director   Flexible   Free   Gordon   Huszagh   John   NYSE   SUBK   Shea   Stark   Susan   about   asset   average   cash   chart   cluster   designed   different   insider   insiders   make   market   open   performance   point   portfolio   price   purchases   share   shares   short   stock   strong   that   their   this   three   trading   versus   week   with
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