As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Lumen Technologies, a filing with the SEC revealed that on Thursday, CEO Kathleen E. Johnson bought 1,000,000 shares of LUMN, for a cost of $0.97 each, for a total investment of $970,000. So far Johnson is in the green, up about 30.9% on their purchase based on today's trading high of $1.27. Lumen Technologies is trading up about 8% on the day Monday.
And also on Thursday, Director Matthew Cohn purchased $683,200 worth of The Bancorp, purchasing 17,980 shares at a cost of $38.00 a piece. Before this latest buy, Cohn bought TBBK at 5 other times during the past twelve months, for a total investment of $422,548 at an average of $34.64 per share. The Bancorp is trading off about 0.1% on the day Monday. Cohn was up about 5.7% on the buy at the high point of today's trading session, with TBBK trading as high as $40.18 at last check today.
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