Monday 2/3 Insider Buying Report: OVLY, NWFL Monday, February 3, 1:34 PM 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.
At Oak Valley Bancorp, a filing with the SEC revealed that on Wednesday, Director H. Randolph Holder Jr. purchased 6,000 shares of OVLY, at a cost of $25.97 each, for a total investment of $155,844. Oak Valley Bancorp is trading trading flat on the day Monday. Before this latest buy, Holder Jr. purchased OVLY on 4 other occasions during the past twelve months, for a total investment of $105,516 at an average of $24.97 per share.
And at Norwood Financial, there was insider buying on Thursday, by Ronald R. Schmalzle who purchased 2,000 shares for a cost of $26.00 each, for a trade totaling $52,000. Before this latest buy, Schmalzle bought NWFL on 2 other occasions during the past year, for a total cost of $399,792 at an average of $26.49 per share. Norwood Financial is trading up about 0.4% on the day Monday. So far Schmalzle is in the green, up about 6.2% on their purchase based on today's trading high of $27.60.
For MarketNewsVideo.com, I'm Sayoko Murase.
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