The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $299K invested across 2 purchases by Gerard J. Michel, Chief Executive Officer at Delcath Systems Inc (NASDAQ:DCTH).
Michel bets big on DCTH:
Purchased
Insider
Title
Shares
Price/Share
Value
12/11/2020
Gerard J. Michel
Chief Executive Officer
7,500
$13.25
$99,375.00
04/05/2021
Gerard J. Michel
Chief Executive Officer
15,500
$12.88
$199,640.00
Michel's average cost works out to $13.00/share. In trading on Wednesday, bargain hunters could buy shares of Delcath Systems Inc (NASDAQ:DCTH) and achieve a cost basis lower than Michel, with shares changing hands as low as $10.35 per share. Shares of Delcath Systems Inc were changing hands at $10.63 at last check, trading off about 2% on Wednesday. The chart below shows the one year performance of DCTH shares, versus its 200 day moving average:
Looking at the chart above, DCTH's low point in its 52 week range is $7.16 per share, with $25.18 as the 52 week high point — that compares with a last trade of $10.63.
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