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.
At BancFirst, a filing with the SEC revealed that on Tuesday, Executive Vice President and Dennis L. Brand purchased 9,000 shares of BANF, at a cost of $54.31 each, for a total investment of $488,750. BancFirst is trading down about 1% on the day Tuesday. This purchase marks the first one filed by Brand in the past year.
And at Sunlight Financial Holdings, there was insider buying on Monday, by CFO Barry Edinburg who bought 75,000 shares for a cost of $5.34 each, for a total investment of $400,875. This purchase marks the first one filed by Edinburg in the past year. Sunlight Financial Holdings is trading up about 2.8% on the day Tuesday.
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