Bargain Hunters Take Note: Insider Cluster-Buying At JOANBy Market News Video Staff, Monday, September 20, 10:52 AM ETA particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At JOANN Inc (JOAN), 3 different insiders purchased 13,000 shares at an average price of $10.47/share, for a total of $136,173, with the most recent purchase on September 15, 2021. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":
The chart below shows the one year performance of JOAN shares, versus its 200 day moving average. Note that JOAN's low point in its 52 week range is $9.75 per share, with $17.5018 as the 52 week high point — that compares with a last trade of $11.68, with shares currently trading off about 1.7% on the day.
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