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 Citizens Holding, a filing with the SEC revealed that on Thursday, Director Vincent Craig Dungan purchased 30,000 shares of CIZN, for a cost of $10.50 each, for a total investment of $314,986. So far Dungan is in the green, up about 0.6% on their purchase based on today's trading high of $10.56. Citizens Holding is trading up about 0.4% on the day Friday. Before this latest buy, Dungan bought CIZN at 3 other times during the past year, for a total investment of $58,974 at an average of $11.44 per share.
And on Tuesday, Steven J. McLaughlin bought $304,474 worth of Expensify, buying 67,661 shares at a cost of $4.50 each. Before this latest buy, McLaughlin purchased EXFY on 5 other occasions during the past twelve months, for a total investment of $7.51M at an average of $5.03 per share. Expensify is trading up about 3.4% on the day Friday.
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