Thursday 8/28 Insider Buying Report: PVA, CIO Thursday, August 28, 3:11 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 Wednesday, Penn Virginia (PVA)'s CEO, H. Baird Whitehead, made a $146,688 buy of PVA, purchasing 10,000 shares at a cost of $14.67 each. Whitehead was up about 1.7% on the purchase at the high point of today's trading session, with PVA trading as high as $14.92 in trading on Thursday. Penn Virginia is trading up about 0.5% on the day Thursday. This buy marks the first one filed by Whitehead in the past twelve months.
And at City Office REIT (CIO), there was insider buying on Wednesday, by Chief Executive Officer James Thomas Farrar who bought 10,000 shares for a cost of $12.80 each, for a trade totaling $127,977. Before this latest buy, Farrar made one other purchase in the past year, buying $98,459 shares at a cost of $12.31 a piece. City Office REIT is trading down about 0.7% on the day Thursday. Farrar was up about 2.3% on the purchase at the high point of today's trading session, with CIO trading as high as $13.09 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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