Chatham Lodging Shares Spike On Insider Purchases

In the wake of two disappointing earnings reports from Q2 and Q3, shares Chatham Lodging Trust CLDT are trading at over a 25 percent premium compared to early August. This week, Chatham experienced three insider trades before spiking late in afternoon trading:

President and CEO Jeffrey Fisher bought 25,000 shares at an average price of $17.35 on Monday.

Chief operating officer, Dennis Craven, bought 2,000 shares at an average price of $17.23 on Monday.

Executive vice president and chief investment officer, Willis Peter, bought 2,000 shares at the average price of $17.44.

After news of the first insider purchase came through, Chatham’s share price spiked to $17.66 just before market close Tuesday, dropping slightly to $17.55 in after-hours trading.

At last check, Chatham was up 4.5 percent at $18.34.

Insider transactions can indicate what company management and major shareholders expect to happen to the price of a stock both near and long term.

Market News and Data brought to you by Benzinga APIs

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