Apr 24, 2020 (MarketNewsVideo.com via COMTEX) --
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 Pinnacle Financial Partners, a filing with the SEC revealed that on Thursday, Director G. Kennedy Thompson purchased 5,000 shares of PNFP, for a cost of $34.86 each, for a total investment of $174,300. Pinnacle Financial Partners is trading down about 0.5% on the day Friday. Before this latest buy, Thompson purchased PNFP on 2 other occasions during the past year, for a total cost of $399,770 at an average of $49.97 per share.
And on Monday, Director Shih-chung Chou bought $120,000 worth of Proficient Alpha Acquisition, buying 600,000 shares at a cost of $0.20 each. This purchase marks the first one filed by Chou in the past year. Proficient Alpha Acquisition is trading up about 0.4% on the day Friday. So far Chou is in the green, up about 5010.0% on their purchase based on today's trading high of $10.22.
The preceding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=20200420200424insiderPNFPP&mv=1 .
Copyright 2020 MarketNewsVideo.com