Thursday 7/20 Insider Buying Report: MSM, OLBK Thursday, July 20, 10:32 AM 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.
On Wednesday, MSC Industrial Direct (MSM)'s Director, Philip Peller, made a $72,000 buy of MSM, purchasing 1,000 shares at a cost of $72.00 a piece. MSC Industrial Direct is trading up about 0.3% on the day Thursday. This purchase marks the first one filed by Peller in the past twelve months.
And at Old Line Bancshares (OLBK), there was insider buying on Wednesday, by CEO James W. Cornelsen who purchased 1,813 shares at a cost of $27.51 each, for a trade totaling $49,884. Before this latest buy, Cornelsen made one other purchase in the past twelve months, buying $18,145 shares for a cost of $19.10 a piece. Old Line Bancshares is trading up about 1.2% on the day Thursday. Cornelsen was up about 1.0% on the buy at the high point of today's trading session, with OLBK trading as high as $27.79 in trading on Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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