Tuesday 2/19 Insider Buying Report: SLCT, X Tuesday, February 19, 10:35 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.
At Select Bancorp (SLCT), a filing with the SEC revealed that on Friday, Director Seth Wilfong bought 25,000 shares of SLCT, at a cost of $12.00 each, for a total investment of $300,000. Select Bancorp is trading up about 0.6% on the day Tuesday. Before this latest buy, Wilfong made one other purchase in the past twelve months, buying $264,000 shares for a cost of $12.00 each.
And also on Friday, EVP & Chief Financial Officer Kevin Bradley purchased $227,900 worth of United States Steel Corp. (X), purchasing 10,000 shares at a cost of $22.79 each. Before this latest buy, Bradley bought X at 4 other times during the past year, for a total investment of $1.62M at an average of $32.45 per share. United States Steel Corp. is trading up about 1.5% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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