Wednesday 6/10 Insider Buying Report: BORR, GBFH
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.
On Tuesday, Borr Drilling's Director, Tor Olav Troim, made a $5M purchase of BORR, buying 1,063,000 shares at a cost of $4.70 each. Investors are able to buy BORR at a price even lower than Troim did, with shares changing hands as low as $4.60 in trading on Wednesday -- that's 2.1% below Troim's purchase price. Borr Drilling is trading up about 2.2% on the day Wednesday. Before this latest buy, Troim bought BORR on 2 other occasions during the past year, for a total investment of $5.39M at an average of $5.39 per share.
And at Gbank Financial Holdings, there was insider buying on Friday, by Charles William Griege Jr. who bought 28,000 shares at a cost of $29.00 each, for a total investment of $812,000. Before this latest buy, Griege Jr. made one other buy in the past twelve months, purchasing $832,598 shares at a cost of $33.30 each. Gbank Financial Holdings is trading up about 2.3% on the day Wednesday. So far Griege Jr. is in the green, up about 8.4% on their buy based on today's trading high of $31.45.
VIDEO: Wednesday 6/10 Insider Buying Report: BORR, GBFH