Thursday 7/2 Insider Buying Report: SLCA
The Online Investor - Thu., Jul. 2, 10:32 AM
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 one noteworthy recent insider buy.
At US Silica Holdings (SLCA), a filing with the SEC revealed that on Tuesday, Director Daniel W. Avramovich purchased 10,000 shares of SLCA, for a cost of $28.75 each, for a total investment of $287,500. Bargain hunters are able to bag SLCA at a price even lower than Avramovich did, with the stock trading as low as $27.32 in trading on Thursday -- that's 5.0% under Avramovich's purchase price. US Silica Holdings is trading up about 0.3% on the day Thursday.