Thursday 4/24 Insider Buying Report: CMG, FRBK Thursday, April 24, 12:01 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 Tuesday, Chipotle Mexican Grill (CMG)'s Director, Jeffrey B. Kindler, made a $509,576 buy of CMG, purchasing 1,000 shares at a cost of $509.58 each. Chipotle Mexican Grill is trading up about 0.7% on the day Thursday. This purchase marks the first one filed by Kindler in the past year.
And at Republic First Bancorp (FRBK), there was insider buying on Monday, by Director Brian Tierney who purchased 26,316 shares for a cost of $3.80 each, for a trade totaling $100,001. Republic First Bancorp is trading up about 1.2% on the day Thursday. Tierney was up about 12.6% on the buy at the high point of today's trading session, with FRBK trading as high as $4.28 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
|