Friday 9/12 Insider Buying Report: CCEL, AROW
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 Cryo-Cell International, a filing with the SEC revealed that on Wednesday, Chairman, Co-CEO David Portnoy purchased 42,900 shares of CCEL, at a cost of $4.43 each, for a total investment of $189,986. So far Portnoy is in the green, up about 6.1% on their buy based on today's trading high of $4.70. Cryo-Cell International is trading down about 3.5% on the day Friday. Before this latest buy, Portnoy bought CCEL at 3 other times during the past year, for a total investment of $285,581 at an average of $4.44 per share.
And at Arrow Financial, there was insider buying on Wednesday, by CFO Penko Krassimir Ivanov who purchased 5,000 shares for a cost of $29.10 each, for a trade totaling $145,499. Before this latest buy, Ivanov bought AROW on 2 other occasions during the past twelve months, for a total investment of $391,248 at an average of $29.14 per share. Arrow Financial is trading off about 0.5% on the day Friday.
VIDEO: Friday 9/12 Insider Buying Report: CCEL, AROW