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Snatch This Bargain Even Cheaper Than President Wurster Did
By Market News Video Staff, Monday, July 22, 11:11 AM ET
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 July 17, The Charles Schwab Corporation's President, Richard A. Wurster, invested $620,454.00 into 10,000 shares of SCHW, for a cost per share of $62.05. 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 Monday, bargain hunters could buy shares of The Charles Schwab Corporation (NYSE:SCHW) and achieve a cost basis 1.2% cheaper than Wurster, with shares changing hands as low as $61.32 per share. The Charles Schwab Corporation shares are currently trading down about 0.3% on the day. The chart below shows the one year performance of SCHW shares, versus its 200 day moving average:
Looking at the chart above, SCHW's low point in its 52 week range is $48.66 per share, with $79.49 as the 52 week high point — that compares with a last trade of $63.70. By comparison, below is a table showing the prices at which SCHW insider buying was recorded over the last six months:
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