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Wednesday 7/29 Insider Buying Report: INTC, CADE
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 Intel, a filing with the SEC revealed that on Friday, CEO Robert Holmes Swan bought 8,021 shares of INTC, at a cost of $50.00 each, for a total investment of $401,050. Bargain hunters have the opportunity to buy INTC even cheaper than Swan did, with shares changing hands as low as $48.60 in trading on Wednesday -- that's 2.8% below Swan's purchase price. Intel is trading off about 1.1% on the day Wednesday. Before this latest buy, Swan made one other buy in the past year, purchasing $498,953 shares at a cost of $45.70 each.
And on Monday, CEO Paul B. Murphy Jr. bought $122,250 worth of Cadence Bancorporation, buying 15,000 shares at a cost of $8.15 each. Before this latest buy, Murphy Jr. made one other purchase in the past twelve months, buying $158,800 shares at a cost of $15.88 a piece. Cadence Bancorporation is trading up about 1.2% on the day Wednesday.
The preceding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=20200720200729insiderINTCC&mv=1.