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 Coinbase Global, a filing with the SEC revealed that on Wednesday, Director Tobias Lutke bought 6,834 shares of COIN, for a cost of $54.21 each, for a total investment of $370,471. Coinbase Global is trading up about 0.9% on the day Monday. Before this latest buy, Lutke bought COIN on 22 other occasions during the past twelve months, for a total cost of $8.6M at an average of $54.31 per share.
And on Friday, David B. Ramaker purchased $49,995 worth of Mercantile Bank, purchasing 1,500 shares at a cost of $33.33 a piece. Before this latest buy, Ramaker made one other purchase in the past year, buying $109,740 shares at a cost of $36.58 a piece. Mercantile Bank Corp. is trading up about 3% on the day Monday. Ramaker was up about 3.3% on the purchase at the high point of today's trading session, with MBWM trading as high as $34.42 at last check today.
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