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 Pacific Premier Bancorp (NASDAQ:PPBI), a filing with the SEC revealed that on Friday, Director Joseph L. Garrett purchased 1,125 shares of PPBI, at a cost of $16.46 each, for a total investment of $18,514. Bargain hunters are able to pick up PPBI even cheaper than Garrett did, with shares trading as low as $15.97 in trading on Monday which is 3% below Garrett's purchase price. Pacific Premier Bancorp is trading up about 0.9% on the day Monday. Before this latest buy, Garrett purchased PPBI on 5 other occasions during the past twelve months, for a total cost of $113,974 at an average of $12.36 per share.
And on Thursday, CEO Christopher Crupi bought $12,100 worth of Paramount Gold & Silver Corp (AMEX:PZG), buying 10,000 shares at a cost of $1.21 a piece. Before this latest buy, Crupi purchased PZG on 7 other occasions during the past twelve months, for a total investment of $137,310 at an average of $1.35 per share. Paramount Gold & Silver is trading off about 5.3% on the day Monday. Investors can bag PZG at a price even lower than Crupi did, with the stock changing hands as low as $1.06 in trading on Monday -- that's 12.4% under Crupi's purchase price.
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