Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At PCSB Financial Corp (NASDAQ:PCSB), a filing with the SEC revealed that on Friday, SVP Clifford S. Weber purchased 11,650 shares of PCSB, at a cost of $19.83 each, for a total investment of $231,020. Weber was up about 1.5% on the buy at the high point of today's trading session, with PCSB trading as high as $20.12 at last check today. PCSB Financial Corp is trading up about 0.1% on the day Tuesday. Before this latest buy, Weber bought PCSB on 2 other occasions during the past twelve months, for a total cost of $160,584 at an average of $10.11 per share.
And on Thursday, Robert J. Bishop bought $209,755 worth of Unifi (NYSE:UFI), buying 5,742 shares at a cost of $36.53 a piece. Before this latest buy, Bishop purchased UFI on 7 other occasions during the past twelve months, for a total investment of $1.74M at an average of $28.35 per share. Unifi is trading up about 0.3% on the day Tuesday. Thus far Bishop is down about 0.7% on the buy, with the stock trading as low as $36.29 at last check today.
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