Tuesday 11/18 Insider Buying Report: LKFN, SGM Tuesday, November 18, 3:59 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 Lakeland Financial Corp. (LKFN), a filing with the SEC revealed that on Monday, Director Ronald Truex bought 20,000 shares of LKFN, for a cost of $40.51 each, for a total investment of $810,172. Lakeland Financial Corp. is trading up about 1.7% on the day Tuesday.
And at Stonegate Mortgage Corporation (SGM), there was insider buying on Thursday, by Director Sam Levinson who bought 34,169 shares at a cost of $11.70 each, for a trade totaling $399,880. Before this latest buy, Levinson bought SGM on 4 other occasions during the past year, for a total cost of $2.84M at an average of $13.53 per share. Stonegate Mortgage Corporation is trading up about 0.2% on the day Tuesday. Bargain hunters can pick up SGM at a price even lower than Levinson did, with the stock trading as low as $11.50 at last check today which is 1.7% below Levinson's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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