Friday 1/17 Insider Buying Report: RMBL, EDUC|
The Online Investor - Fri., Jan. 17, 10:37 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 two noteworthy recent insider buys.
At RumbleON (RMBL), a filing with the SEC revealed that on Tuesday, CFO Steven R. Berrard purchased 200,000 shares of RMBL, for a cost of $0.57 each, for a total investment of $114,000. So far Berrard is in the green, up about 19.6% on their purchase based on today's trading high of $0.68. RumbleON is trading up about 8.4% on the day Friday.
And at Educational Development Corp. (EDUC), there was insider buying on Thursday, by CFO Daniel E. O'Keefe who bought 2,500 shares for a cost of $5.90 each, for a total investment of $14,750. Before this latest buy, O'Keefe purchased EDUC at 2 other times during the past year, for a total cost of $39,933 at an average of $7.00 per share. Educational Development Corp. is trading down about 0.2% on the day Friday. Investors have the opportunity to grab EDUC at a price even lower than O'Keefe did, with the stock trading as low as $5.69 at last check today which is 3.5% under O'Keefe's purchase price.