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 Princeton Bancorp, a filing with the SEC revealed that on Tuesday, Martin Tuchman purchased 7,000 shares of BPRN, for a cost of $37.46 each, for a total investment of $262,220. Tuchman was up about 3.3% on the purchase at the high point of today's trading session, with BPRN trading as high as $38.70 in trading on Wednesday. Princeton Bancorp is trading down about 1.1% on the day Wednesday. Before this latest buy, Tuchman purchased BPRN at 15 other times during the past twelve months, for a total cost of $1.97M at an average of $31.01 per share.
And at Bankwell Financial Group, there was insider buying on Monday, by Director Kevin D. Leitao who purchased 2,500 shares for a cost of $26.83 each, for a total investment of $67,075. Bankwell Financial Group is trading off about 0.9% on the day Wednesday. So far Leitao is in the green, up about 4.4% on their buy based on today's trading high of $28.00.
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