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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, Penns Woods Bancorp's Director, William Edwards, made a $199,998 buy of PWOD, purchasing 9,756 shares at a cost of $20.50 a piece. Penns Woods Bancorp is trading off about 1.3% on the day Friday. Before this latest buy, Edwards bought PWOD on 4 other occasions during the past twelve months, for a total investment of $569,285 at an average of $27.37 per share.
And at Tapestry, there was insider buying on Wednesday, by Director John P. Bilbrey who purchased 12,980 shares for a cost of $15.27 each, for a total investment of $198,205. Before this latest buy, Bilbrey purchased TPR at 2 other times during the past twelve months, for a total cost of $250,028 at an average of $15.73 per share. Tapestry is trading up about 1.2% on the day Friday. Bargain hunters can buy TPR at a price even lower than Bilbrey did, with the stock trading as low as $14.41 in trading on Friday which is 5.6% under Bilbrey's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.