Monday 4/14 Insider Buying Report: PRSC, KFS Monday, April 14, 3:40 PM ET
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.
On Thursday, Providence Service Corp (PRSC)'s SVP, General Counsel, Michael-bryant Hicks, made a $28,938 purchase of PRSC, buying 689 shares at a cost of $42.00 each. So far Hicks is in the green, up about 3.2% on their buy based on today's trading high of $43.35. Providence Service Corp is trading up about 0.3% on the day Monday. This buy marks the first one filed by Hicks in the past twelve months.
And at Kingsway Financial Services (KFS), there was insider buying on Wednesday, by Director Gary Schaevitz who purchased 5,000 shares at a cost of $5.22 each, for a trade totaling $26,125. Before this latest buy, Schaevitz made one other purchase in the past twelve months, buying $24,885 shares at a cost of $4.44 a piece. Kingsway Financial Services is trading up about 1.4% on the day Monday. Bargain hunters are able to grab KFS even cheaper than Schaevitz did, with shares trading as low as $5.00 in trading on Monday -- that's 4.3% under Schaevitz's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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