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.
On Tuesday, Swift Energy Company (SFY)'s CEO, Terry E. Swift, made a $219,382 buy of SFY, purchasing 20,000 shares at a cost of $10.97 each. So far Swift is in the green, up about 4.3% on their purchase based on today's trading high of $11.44. Swift Energy Company is trading off about 1.1% on the day Thursday. Before this latest buy, Swift made one other purchase in the past twelve months, buying $141,080 shares at a cost of $14.11 a piece.
And at LNB Bancorp (LNBB), there was insider buying on Wednesday, by Director James R. Herrick who bought 16,084 shares at a cost of $12.00 each, for a total investment of $193,008. Before this latest buy, Herrick bought LNBB on 3 other occasions during the past year, for a total investment of $610,435 at an average of $10.46 per share. LNB Bancorp is trading up about 0.6% on the day Thursday. So far Herrick is in the green, up about 5.0% on their purchase based on today's trading high of $12.60.
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.