Monday 11/24 Insider Buying Report: JCP, CPTA Monday, November 24, 12:24 PM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At J.C. Penney (JCP), a filing with the SEC revealed that on Wednesday, Director Javier G. Teruel purchased 100,000 shares of JCP, for a cost of $7.28 each, for a total investment of $728,000. So far Teruel is in the green, up about 5.4% on their purchase based on today's trading high of $7.67. J.C. Penney is trading up about 4.6% on the day Monday.
And also on Wednesday, Director Markham Hunt Broyhill bought $282,753 worth of Capitala Finance Corporation (CPTA), buying 15,000 shares at a cost of $18.85 a piece. Before this latest buy, Broyhill purchased CPTA at 6 other times during the past year, for a total investment of $1.09M at an average of $18.85 per share. Capitala Finance Corporation is trading up about 2.1% on the day Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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