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Bargain Hunters Take Note: Insider Cluster-Buying At THRY
By Market News Video Staff, Friday, September 17, 11:00 AM ET
A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Thryv Holdings Inc (NASDAQ:THRY), 3 different insiders purchased 3,087 shares at an average price of $29.42/share, for a total of $90,815, with the most recent purchase on September 15, 2021.
Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":
Purchased
Insider
Title
Shares
Price/Share
Value
09/14/2021
Bonnie Kintzer
Director
837
$29.66
$24,825.42
09/16/2021
Amer Akhtar
Director
1,000
$29.74
$29,740.00
09/15/2021
Ryan Ohara
Director
1,250
$29.00
$36,250.00
The chart below shows the one year performance of THRY shares, versus its 200 day moving average. Note that THRY's low point in its 52 week range is $8.10 per share, with $37.2632 as the 52 week high point — that compares with a last trade of $29.20, with shares currently trading down about 0.1% on the day.
This Article's Word Cloud:AkhtarAmerBargainsBelowBonnieCheaperDaysDirectorDollarsHoldingsInsiderInsidersJoinKintzerNoteOfferOharaPresumablyPricePurchasedRyanSeptemberSevenShareSharesSpecialStartTHRYThanThryvTitleValueaverageclusterdifferentinsiderinsidersmakemarketopenpointpurchasessharesharesstockstrongthattheirweekwith
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