Wednesday 11/21 Insider Buying Report: CBTX, AAL Wednesday, November 21, 10:38 AM 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 Tuesday, CBTX (CBTX)'s Director, Joe Penland Sr., made a $1.07M buy of CBTX, purchasing 30,670 shares at a cost of $34.99 each. So far Penland Sr. is down about 0.2% on the purchase, with the stock trading as low as $34.90 at last check today. CBTX is trading up about 0.9% on the day Wednesday. This buy marks the first one filed by Penland Sr. in the past twelve months.
And on Monday, Director Jeffrey D. Benjamin purchased $535,300 worth of American Airlines Group (AAL), purchasing 15,000 shares at a cost of $35.69 a piece. American Airlines Group is trading up about 3.5% on the day Wednesday. Benjamin was up about 3.7% on the buy at the high point of today's trading session, with AAL trading as high as $37.00 in trading on Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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