Insider Buying Picks Up- Week Ending 5-15-20
Insider buying picked up this week across several depressed sectors like insurance, small regional banks, gaming, furniture, REITS, building products, restaurants and retailers, automotive and motorcycle and utility stocks. The buy of the week is property and casualty California auto insurer, Mercury General MCY. Chairman of the Board George Joseph continued accumulating stock with $15 million of stock purchases at an average price of $35.95. MCY is down from it’s high this year of $52. MCY yields 6.65%. People are driving less and insurance claim losses are down as a result of that. Offsetting this, reinvestment rates on bond portfolios … Read more