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 Pacific Premier Bancorp (NASDAQ:PPBI), a filing with the SEC revealed that on Friday, Director Joseph L. Garrett purchased 1,125 shares of PPBI, at a cost of $16.46 each, for a total investment of $18,514. Bargain hunters are able to pick up PPBI even cheaper than Garrett did, with shares trading as low as $15.97 in trading on Monday which is 3% below Garrett's purchase price. Pacific Premier Bancorp is trading up about 0.9% on the day Monday. Before this latest buy, Garrett purchased PPBI on 5 other occasions during the past twelve months, for a total cost of $113,974 at an average of $12.36 per share.
And on Thursday, CEO Christopher Crupi bought $12,100 worth of Paramount Gold & Silver Corp (AMEX:PZG), buying 10,000 shares at a cost of $1.21 a piece. Before this latest buy, Crupi purchased PZG on 7 other occasions during the past twelve months, for a total investment of $137,310 at an average of $1.35 per share. Paramount Gold & Silver is trading off about 5.3% on the day Monday. Investors can bag PZG at a price even lower than Crupi did, with the stock changing hands as low as $1.06 in trading on Monday -- that's 12.4% under Crupi'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.