Wednesday 10/17 Insider Buying Report: BSET, HCAP|
The Online Investor - 16 hours, 9 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 Friday, Bassett Furniture Industries (BSET)'s Director, John R. Belk, made a $314,850 buy of BSET, purchasing 15,000 shares at a cost of $20.99 a piece. Bassett Furniture Industries is trading off about 1.8% on the day Wednesday. This purchase marks the first one filed by Belk in the past twelve months.
And at Harvest Capital Credit Corporation (HCAP), there was insider buying on Friday, by Chief Executive Officer Joseph A. Jolson who purchased 2,386 shares for a cost of $10.46 each, for a total investment of $24,966. Before this latest buy, Jolson purchased HCAP on 12 other occasions during the past year, for a total cost of $1.53M at an average of $10.30 per share. Harvest Capital Credit Corporation is trading off about 5% on the day Wednesday. So far Jolson is in the green, up about 6.6% on their buy based on today's trading high of $11.15.