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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Tuesday, FVCBankcorp's Director, Steven M. Wiltse, made a $100,000 buy of FVCB, purchasing 5,000 shares at a cost of $20.00 each. FVCBankcorp Inc is trading trading flat on the day Thursday. This purchase marks the first one filed by Wiltse in the past year.
And at Net 1 UEPS Technologies, there was insider buying on Wednesday, by Chief Executive Officer Herman Kotze who bought 12,000 shares at a cost of $6.74 each, for a trade totaling $80,880. Before this latest buy, Kotze made one other purchase in the past twelve months, buying $59,110 shares at a cost of $9.85 a piece. Net 1 UEPS Technologies is trading up about 8.7% on the day Thursday. Kotze was up about 10.1% on the purchase at the high point of today's trading session, with UEPS trading as high as $7.42 at last check today.
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