A filing released this morning (August 12, 2019) shows that Lumber Liquidators CEO Dennis R. Knowles purchased 14,000 shares of LL stock at a price of approximately $8. The total value of this open market purchase is valued at about $112,000. To our knowledge this is the first time ever that CEO Knowles has made an open market purchase of the company’s stock.
We congratulate CEO Dennis Knowles for this LL stock purchase
The purchase of LL stock by the CEO on the open market is a tangible expression of his faith in the company. It sends a message to the market and to shareholders that the stock represents a good value (or is perhaps too cheaply priced). The fact that the CEO is willing to invest his own money into this company, is a good sign to shareholders.
My only small gripe is that the CEO might now have a lower average cost basis than me. Perhaps I will buy a bit more at this price too.
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