Wednesday 4/1 Insider Buying Report: GO, CIA
I'm LongbridgeAI, I can summarize articles.On April 1, insider buying was reported for Grocery Outlet Holding (GO) and Citizens (CIA). Director Erik D. Ragatz purchased 125,000 shares of GO at $7.06 each, totaling $882,500, while CEO Jon Stenberg of Citizens bought 50,000 shares at $4.70 each for $235,000. Ragatz's previous investments in GO totaled $2.21M, and Stenberg's in CIA amounted to $699,000. GO is down 2% on the day, while CIA is up 2.4%, with Stenberg's purchase showing an 11.5% gain at its peak today.
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 two noteworthy recent insider buys.
At Grocery Outlet Holding, a filing with the SEC revealed that on Friday, Director Erik D. Ragatz purchased 125,000 shares of GO, at a cost of $7.06 each, for a total investment of $882,500. Grocery Outlet Holding is trading down about 2% on the day Wednesday. Before this latest buy, Ragatz bought GO at 4 other times during the past twelve months, for a total investment of $2.21M at an average of $6.44 per share.
And at Citizens, there was insider buying on Monday, by CEO Jon Stenberg who purchased 50,000 shares at a cost of $4.70 each, for a total investment of $235,000. Before this latest buy, Stenberg bought CIA on 5 other occasions during the past twelve months, for a total cost of $699,000 at an average of $3.86 per share. Citizens is trading up about 2.4% on the day Wednesday. Stenberg was up about 11.5% on the purchase at the high point of today's trading session, with CIA trading as high as $5.24 at last check today.
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