We provide the latest news
from the world of economics and financeBargain 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, Lumen Technologies' CEO, Kathleen E. Johnson, made a $959,850 purchase of LUMN, buying 750,000 shares at a cost of $1.28 each. So far Johnson is in the green, up about 12.5% on their buy based on today's trading high of $1.44. Lumen Technologies is trading up about 5% on the day Friday. Before this latest buy, Johnson made one other buy in the past year, purchasing $970,000 shares at a cost of $0.97 each.
And at The Bancorp, there was insider buying on Wednesday, by EVP and Head of Credit Markets Mark Leo Connolly who bought 20,000 shares at a cost of $31.07 each, for a total investment of $621,308. The Bancorp is trading up about 4% on the day Friday. Connolly was up about 5.3% on the buy at the high point of today's trading session, with TBBK trading as high as $32.72 at last check today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.