Wednesday 5/22 Insider Buying Report: SBY, CUBI
The Online Investor - 19 hours, 6 minutes ago
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.
On Tuesday, Silver Bay Realty Trust (SBY)'s Director, Irvin R. Kessler, made a $985,399 buy of SBY, purchasing 54,623 shares at a cost of $18.04 a piece. Silver Bay Realty Trust is trading up about 0.2% on the day Wednesday. Before this latest buy, Kessler purchased SBY at 3 other times during the past year, for a total investment of $5.85M at an average of $18.54 per share.
And also on Tuesday, CEO Jay S. Sidhu bought $249,994 worth of Customers Bancorp (CUBI), buying 14,925 shares at a cost of $16.75 a piece. This buy marks the first one filed by Sidhu in the past year. Customers Bancorp Incorporated is trading up about 0.7% on the day Wednesday.