As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Affinity Bancshares, a filing with the SEC revealed that on Thursday, Director Robin S. Reich bought 6,970 shares of AFBI, at a cost of $10.78 each, for a total investment of $75,144. Affinity Bancshares is trading off about 0.3% on the day Friday. This purchase marks the first one filed by Reich in the past twelve months.
And at Eagle Capital Growth Fund, there was insider buying on Wednesday, by CFO David C. Sims who purchased 5,000 shares at a cost of $8.01 each, for a total investment of $40,050. Before this latest buy, Sims bought GRF on 3 other occasions during the past twelve months, for a total cost of $91,948 at an average of $6.85 per share. Eagle Capital Growth Fund is trading off about 1.3% on the day Friday. Investors are able to buy GRF at a price even lower than Sims did, with shares trading as low as $7.83 at last check today which is 2.2% below Sims's purchase price.
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