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.
On Tuesday, PCB Bancorp's , Daniel Cho, made a $484,229 buy of PCB, purchasing 53,364 shares at a cost of $9.07 each. Bargain hunters are able to pick up PCB even cheaper than Cho did, with shares changing hands as low as $8.40 at last check today which is 7.4% below Cho's purchase price. PCB Bancorp is trading up about 1.3% on the day Thursday. Before this latest buy, Cho purchased PCB at 2 other times during the past year, for a total investment of $328,503 at an average of $8.97 per share.
And on Wednesday, Director M. Scott Welch bought $359,211 worth of Lakeland Financial, buying 10,000 shares at a cost of $35.92 each. Before this latest buy, Welch purchased LKFN at 4 other times during the past twelve months, for a total investment of $1.27M at an average of $39.77 per share. Lakeland Financial is trading trading flat on the day Thursday.
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