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 Tuesday, Advantage Solutions' Chief Executive Officer, David A. Peacock, made a $115,480 buy of ADV, purchasing 35,000 shares at a cost of $3.30 a piece. Peacock was up about 8.8% on the buy at the high point of today's trading session, with ADV trading as high as $3.59 at last check today. Advantage Solutions is trading up about 2.7% on the day Wednesday. Before this latest buy, Peacock purchased ADV at 2 other times during the past twelve months, for a total investment of $162,545 at an average of $2.96 per share.
And on Monday, Director Dennis Pollack bought $114,700 worth of Provident Bancorp, buying 10,000 shares at a cost of $11.47 a piece. Before this latest buy, Pollack purchased PVBC on 3 other occasions during the past year, for a total investment of $130,183 at an average of $9.99 per share. Provident Bancorp is trading up about 1.6% on the day Wednesday.
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