As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Bassett Furniture Industries, Inc (NASDAQ:BSET), a filing with the SEC revealed that on Monday, Pres & Chief Executive Officer Robert H. Spilman Jr. bought 16,000 shares of BSET, for a cost of $10.83 each, for a total investment of $173,312. Spilman Jr. was up about 6.8% on the purchase at the high point of today's trading session, with BSET trading as high as $11.57 in trading on Thursday. Bassett Furniture Industries, Inc is trading up about 2.1% on the day Thursday.
And at Bancorp of New Jersey, Inc. (AMEX:BKJ), there was insider buying on Tuesday, by CEO Albert F. Buzzetti who purchased 3,000 shares for a cost of $10.86 each, for a total investment of $32,580. Before this latest buy, Buzzetti purchased BKJ at 2 other times during the past twelve months, for a total investment of $18,065 at an average of $9.56 per share. Bancorp of New Jersey, Inc. is trading off about 0.7% on the day Thursday. Bargain hunters can bag BKJ even cheaper than Buzzetti did, with shares changing hands as low as $10.10 in trading on Thursday -- that's 7.0% below Buzzetti's purchase price.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.