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, Dollar Tree's Chief Executive Officer, Richard W. Dreiling, made a $1.01M buy of DLTR, purchasing 7,100 shares at a cost of $142.00 a piece. Dollar Tree is trading up about 2.7% on the day Monday. This buy marks the first one filed by Dreiling in the past twelve months.
And at SouthState, there was insider buying on Friday, by G. Ruffner Page Jr. who purchased 14,000 shares for a cost of $71.75 each, for a trade totaling $1.00M. Before this latest buy, Page Jr. made one other purchase in the past year, buying $497,322 shares at a cost of $78.94 each. SouthState is trading off about 5% on the day Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.