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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Advantage Solutions, a filing with the SEC revealed that on Monday, Director James M. Kilts bought 100,000 shares of ADV, for a cost of $5.63 each, for a total investment of $563,379. Kilts was up about 6.5% on the buy at the high point of today's trading session, with ADV trading as high as $6.00 at last check today. Advantage Solutions is trading up about 8.5% on the day Wednesday. Before this latest buy, Kilts made one other purchase in the past twelve months, buying $702,146 shares at a cost of $10.89 a piece.
And at OP Bancorp, there was insider buying on Monday, by Director Ock Hee Kim who purchased 33,200 shares at a cost of $13.10 each, for a trade totaling $434,920. Before this latest buy, Kim bought OPBK on 4 other occasions during the past year, for a total cost of $1.16M at an average of $12.65 per share. OP Bancorp is trading off about 0.2% on the day Wednesday.
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