Monday 10/27 Insider Buying Report: CREE, SFBS Monday, October 27, 4:10 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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, Cree (CREE)'s Director, John B. Replogle, made a $138,750 buy of CREE, purchasing 5,000 shares at a cost of $27.75 each. So far Replogle is in the green, up about 10.4% on their purchase based on today's trading high of $30.63. Cree is trading up about 3% on the day Monday. Before this latest buy, Replogle made one other buy in the past twelve months, purchasing $57,860 shares for a cost of $46.29 a piece.
And also on Thursday, EVP, Correspondent Banking Rodney Eldon Rushing bought $28,878 worth of ServisFirst Bancshares (SFBS), buying 1,000 shares at a cost of $28.88 each. Before this latest buy, Rushing made one other buy in the past year, purchasing $29,890 shares at a cost of $29.89 each. ServisFirst Bancshares is trading down about 0.9% on the day Monday. Rushing was up about 1.5% on the purchase at the high point of today's trading session, with SFBS trading as high as $29.31 at last check today.
For MarketNewsVideo.com, I'm Tracey Fitzpatrick.
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