Top Buys by Directors: Ramsay's $590K Bet on SVRABy Market News Video Staff, Wednesday, March 2, 1:04 PM ETThe directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $590K invested across 7 purchases by David A. Ramsay, Director at Savara Inc (NASDAQ:SVRA). Ramsay bets big on SVRA:
Ramsay's average cost works out to $1.15/share. In trading on Wednesday, bargain hunters could buy shares of Savara Inc (NASDAQ:SVRA) and achieve a cost basis lower than Ramsay, with shares changing hands as low as $1.08 per share. Shares of Savara Inc were changing hands at $1.10 at last check, trading down about 4% on Wednesday. The chart below shows the one year performance of SVRA shares, versus its 200 day moving average:
Looking at the chart above, SVRA's low point in its 52 week range is $1.02 per share, with $2.49 as the 52 week high point — that compares with a last trade of $1.10. Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
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