Market Overview

Chatham Lodging Shares Spike On Insider Purchases

Chatham Lodging Shares Spike On Insider Purchases

In the wake of two disappointing earnings reports from Q2 and Q3, shares Chatham Lodging Trust (NYSE: 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.

    Posted-In: Dennis Craven Jeffrey FisherNews REIT Insider Trades Movers Real Estate Best of Benzinga


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