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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 dollars to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Tuesday, CEO Barry Sloane purchased $471,560 worth of NewtekOne, purchasing 40,134 shares at a cost of $11.75 a piece. Before this latest buy, Sloane purchased NEWT at 6 other times during the past twelve months, for a total investment of $457,930 at an average of $13.13 per share. NewtekOne is trading up about 2% on the day Tuesday. So far Sloane is in the green, up about 3.1% on their buy based on today’s trading high of $12.11.
VIDEO: Tuesday 9/24 Insider Buying Report: NEWT
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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