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 SVB Financial Group, a filing with the SEC revealed that on Tuesday, Richard Devon Daniels bought 500 shares of SIVB, at a cost of $523.30 each, for a total investment of $261,650. SVB Financial Group is trading off about 2.8% on the day Thursday.
And also on Tuesday, EVP, CAO and Treasurer Brent Simonich bought $250,079 worth of Lpl Financial Holdings, buying 1,909 shares at a cost of $131.00 each. This purchase marks the first one filed by Simonich in the past twelve months. Lpl Financial Holdings is trading off about 1.7% on the day Thursday.
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