RE: Insider buying todayThanks for reporting the insider buys for the past few days, please keep it up. This information is useful.
Based on the volumes of shares bought and frequency of such purchases, it certainly raises the possibility that management could be gearing up for a sale of the company. The first tip is the introduction of the shareholder rights plan. Then management has been buying big volumes and in the open market.
Normally these folks get their shares at substantial discounts by exercising their options and then flip them for a quick profit selling them in the open market. To buy at open market prices, and at such volumes, means they have to get some kind of personal financing (at certain cost of course) to do what they are doing. The last time I check around very few of us have several hundred thousands of dollars just lying around. This means if some kind of buyout is in the works, it'll be announced very soon - say within a week and no more than two.
I don't normally think buyouts. They seldom happen and are in reality very rare. However, what the insiders are doing now seems to be pointing at that direction (besides a symbolic propping up of the SMF share price).
Who knows, if it looks like a duck, walks like a duck, and quacks like a duck, it could be a duck.