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Top Buys by Directors: Mhatre's $620.1K Bet on BHLB

By Market News Video Staff, Monday, November 8, 3:19 PM ET
Play Video: One Reason For Insiders to Buy


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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 $620.1K invested across 7 purchases by Nitin J. Mhatre, CEO at Berkshire Hills Bancorp Inc (NYSE:BHLB).

Mhatre bets big on BHLB:

Purchased Insider Title Shares Price/Share Value
05/21/2021 Nitin J. Mhatre President and CEO 11,000 $27.46 $302,042.40
05/24/2021 Nitin J. Mhatre President and CEO 2,000 $26.99 $53,989.60
05/25/2021 Nitin J. Mhatre President and CEO 2,000 $27.02 $54,043.00
05/26/2021 Nitin J. Mhatre President and CEO 2,000 $26.20 $52,410.00
06/04/2021 Nitin J. Mhatre President and CEO 1,080 $27.77 $29,986.85
09/13/2021 Nitin J. Mhatre President and CEO 3,800 $24.64 $93,632.00
09/20/2021 Nitin J. Mhatre President and CEO 1,420 $23.95 $34,009.00

Mhatre's average cost works out to $26.61/share. Shares of Berkshire Hills Bancorp Inc were changing hands at $28.42 at last check, trading down about 0.5% on Monday. The chart below shows the one year performance of BHLB shares, versus its 200 day moving average:

Berkshire Hills Bancorp Inc Chart

Looking at the chart above, BHLB's low point in its 52 week range is $13.97 per share, with $29.04 as the 52 week high point — that compares with a last trade of $28.42.


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This Article's Word Cloud:   BHLB   Bancorp   Berkshire   Buys   Company   Days   Directors   Dollars   Hills   Insider   Join   Looking   Mhatre   Monday   NYSE   Nitin   Offer   President   Presumably   Price   Purchased   Seven   Share   Shares   Special   Start   Title   Value   ValueForum   about   above   across   average   below   buys   chart   company   directors   last   make   maybe   mdash   point   share   stock   take   that   they   week   with
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Top Buys by Directors: Mhatre's $620.1K Bet on BHLB | Market News Video | Copyright © 2008 - 2024, All Rights Reserved

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