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Top Buys by Top Brass: President Wurster's $620.5K Bet on SCHW
By Market News Video Staff, Monday, July 22, 11:10 AM ET
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. 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 — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $620.5K by Richard A. Wurster, President at The Charles Schwab Corporation (NYSE:SCHW).
Wurster bets big on SCHW:
Purchased
Insider
Title
Shares
Price/Share
Value
07/17/2024
Richard A. Wurster
President
10,000
$62.05
$620,454.00
Wurster's average cost works out to $62.05/share. In trading on Monday, bargain hunters could buy shares of The Charles Schwab Corporation (NYSE:SCHW) and achieve a cost basis lower than Wurster, with shares changing hands as low as $61.32 per share. Shares of The Charles Schwab Corporation were changing hands at $63.96 at last check, trading off about 0.3% on Monday. 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 $63.96.
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