Brightpoint Inc. executives in recent days have scooped up tens of thousands of shares of company stock, a move that suggests they believe the battered shares have become a bargain.
At the time of the purchases, the stock was off more than 50 percent for the year. Disclosures of the purchases this week gave Brightpoint shares a lift today. They climbed about 6 percent, to $7.89 apiece.
Regulatory filings show founder, Chairman and CEO Bob Laikin acquired 5,000 shares for $37,500, while President Mark Howell bought 25,000 shares for $185,000.
Other major purchases: General Counsel Steven Fivel bought 20,000 shares for $149,200, and Senior Vice President Anurag Gupta bought 5,000 shares for $38,250.
The Plainfield-based company, a distributor of wireless devices, has been struggling to digest last year's $385-million purchase of Denmark-based Dangaard Telecom A/S.