Top Buys by Directors: Lambiase's $320K Bet on CIM

The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $320K by Matthew Lambiase, CEO at Chimera Investment Corporation ( CIM).

Click here to find out which other top insider buys by company directors you need to know about »

Lambiase bets big on CIM:
Purchased Insider Title Shares Price/Share Value
08/13/2014 Matthew Lambiase CEO, President and Director 100,000 $3.20 $320,000.00

Lambiase's average cost works out to $3.20/share. Shares of Chimera Investment Corporation were changing hands at $3.25 at last check, trading up about 0.1% on Monday. The chart below shows the one year performance of CIM shares, versus its 200 day moving average:

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