Corinthian Colleges (COCO) NewsBite - Insider Trading Indicates Bullishness on COCO

Posted on Thursday, May 29, 2008 11:39 AM

Corinthian Colleges Inc. (COCO) opened at 11.87. So far today, the stock has hit a low of 11.87 and a high of 12.93. COCO is now trading at 12.91, up 1.26 (10.61%). The stock hit its 52 week high of 18.25 in December and set its 52 week low of 6.45 in January. COCO fell at the beginning of this year, but has been stronger recently. A quick look over insider trading shows that over the past three months insiders have been picking up over $251 thousand worth of shares in the company, with no selling activity, indicating they feel the stock will move higher. Technical indicators for the stock are bullish and steady while S&P gives COCO a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $10 range. COCO stock could fall up to 22.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]