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, BancFirst's Executive Vice President and, Dennis L. Brand, made a $368,750 buy of BANF, purchasing 5,000 shares at a cost of $73.75 each. BancFirst is trading down about 3.1% on the day Wednesday. Before this latest buy, Brand made one other purchase in the past twelve months, buying $166,000 shares at a cost of $83.00 a piece.
And at Cosmos Health, there was insider buying on Friday, by Chief Executive Officer Grigorios Siokas who purchased 4,474 shares at a cost of $24.49 each, for a trade totaling $109,568. Before this latest buy, Siokas bought COSM at 2 other times during the past year, for a total cost of $3.05M at an average of $11.61 per share. Cosmos Health is trading off about 0.9% on the day Wednesday. Bargain hunters can bag COSM even cheaper than Siokas did, with shares trading as low as $3.35 in trading on Wednesday -- that's 86.3% below Siokas's purchase price.
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