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Coastal Financial Corp is Now Oversold (CCB)
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Snatch This Bargain Even Cheaper Than Director Lane Did
Wednesday, June 22, 1:11 PM ET, by Market News Video Staff

There's an old saying on Wall Street about insider buying: there are many possible reasons ...

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Snatch This Bargain Even Cheaper Than Director Lane Did

By Market News Video Staff, Wednesday, June 22, 1:11 PM ET
Play Video: One Reason For Insiders to Buy


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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 9, Coastal Financial Corp's Director, Thomas D. Lane, invested $50,654.70 into 1,285 shares of CCB, for a cost per share of $39.42. Bargain hunters tend to pay particular attention to insider buys like this one, because 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.

In trading on Wednesday, bargain hunters could buy shares of Coastal Financial Corp (NASDAQ:CCB) and achieve a cost basis 6.1% cheaper than Lane, with shares changing hands as low as $37.01 per share. Coastal Financial Corp shares are currently trading off about 0.7% on the day. The chart below shows the one year performance of CCB shares, versus its 200 day moving average:

Coastal Financial Corp Chart

Looking at the chart above, CCB's low point in its 52 week range is $26.80 per share, with $54.41 as the 52 week high point — that compares with a last trade of $37.20. By comparison, below is a table showing the prices at which CCB insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
04/29/2022 Andrew P. Skotdal Director 482 $41.69 $20,094.00
05/02/2022 Thomas D. Lane Director 1,602 $41.88 $67,090.72
05/09/2022 Thomas D. Lane Director 1,285 $39.42 $50,654.70

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This Article's Word Cloud:   Andrew   Back   Bargain   Bargains   Cheaper   Coastal   Corp   Director   Dividends   Financial   Free   Insider   Insiders   Lane   Looking   Price   Purchased   Report   Share   Shares   Skotdal   Start   Street   Than   There   Thomas   Title   Value   Wall   Wednesday   about   above   below   buying   chart   cost   hunters   insider   last   only   point   reason   share   shares   stock   that   their   trading   week   with
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