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 Wednesday, PCB Bancorp's Director, Don Rhee, made a $758,080 buy of PCB, purchasing 50,025 shares at a cost of $15.15 each. PCB Bancorp is trading up about 0.2% on the day Friday. Before this latest buy, Rhee made one other buy in the past year, purchasing $298,577 shares for a cost of $17.02 each.
And at Onewater Marine, there was insider buying on Tuesday, by Chief Executive Officer Philip Austin Singleton Jr. who bought 62,500 shares for a cost of $12.00 each, for a total investment of $750,000. Onewater Marine is trading down about 3.6% on the day Friday. So far Singleton Jr. is in the green, up about 44.1% on their purchase based on today's trading high of $17.29.
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