Bullish Two Hundred Day Moving Average Cross - WRLD Wednesday, February 1, 11:31 AM ET, by Market News Video Staff In trading on Wednesday, shares of World Acceptance Corp. (WRLD) crossed above their 200 day ...
World Acceptance Corp. is Now Oversold (WRLD) Monday, April 9, 12:45 PM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
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 22, Oneida Financial Corp 's CEO, R. Kallet Michael, invested $7,686.88 into 856 shares of ONFC, for a cost per share of $8.98. 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 Monday, bargain hunters could buy shares of Oneida Financial Corp (NASDAQ:ONFC) and achieve a cost basis even cheaper than Michael, with shares changing hands as low as $8.97 per share. Oneida Financial Corp shares are currently trading off about 3% on the day. The chart below shows the one year performance of ONFC shares, versus its 200 day moving average:
Looking at the chart above, ONFC's low point in its 52 week range is $7.71 per share, with $9.67 as the 52 week high point — that compares with a last trade of $8.97. 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
11/22/2011
R. Kallet Michael
President and CEO
856
$8.98
$7,686.88
12/01/2011
R. Kallet Michael
President and CEO
4,700
$9.12
$42,881.00
ONFC operates in the Credit Services & Lending sector, among companies like World Acceptance Corp. (NASDAQ:WRLD) which is up about 0.9% today, and First Cash Financial Services Inc (NASDAQ:FCFS) trading higher by about 0.8%. Below is a three month price history chart comparing the stock performance of ONFC, versus WRLD and FCFS.
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