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 Curo Group Holdings Corp (CURO), 3 different insiders purchased 316,000 shares at an average price of $1.26/share, for a total of $398,407, with the most recent purchase on August 2, 2023.
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
05/02/2023
Douglas D. Clark
Chief Executive Officer
20,000
$1.60
$31,993.20
05/23/2023
Ismail Dawood
Chief Financial Officer
200,000
$1.09
$218,000.00
06/01/2023
Douglas D. Clark
Chief Executive Officer
20,000
$1.13
$22,586.00
06/14/2023
Chadwick Heath Faulkner
Director
20,000
$1.87
$37,362.00
07/03/2023
Douglas D. Clark
Chief Executive Officer
20,000
$1.39
$27,844.00
08/01/2023
Chadwick Heath Faulkner
Director
16,000
$1.68
$26,945.60
08/02/2023
Douglas D. Clark
Chief Executive Officer
20,000
$1.68
$33,675.82
The chart below shows the one year performance of CURO shares, versus its 200 day moving average. Note that CURO's low point in its 52 week range is $1 per share, with $8.10 as the 52 week high point — that compares with a last trade of $1.62, with shares currently trading up about 3.2% on the day.
This Article's Word Cloud:AugustBargainsBelowCUROChadwickCheaperChiefClarkCorpCuroDawoodDirectorDividendsDouglasExecutiveFaulknerFinancialFreeGroupHeathHoldingsInsiderInsidersIsmailNoteOfficerPresumablyPricePurchasedReportShareSharesaverageclusterdifferentinsiderinsidersmakemarketopenpointpurchasessharesharesstockstrongthattheirweekwith
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The Importance of Insider Buying
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