Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money.
Today we look at two noteworthy recent insider buys.
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money.
Today we look at two noteworthy recent insider buys.
At Franklin Street Properties, a filing with the SEC revealed that on Monday, Dennis J.
McGillicuddy bought 300,552 shares of FSP, for a cost of $4.22 each, for a total investment of $1.27M.
So far McGillicuddy is in the green, up about 15.0% on their buy based on today's trading high of $4.85.
Franklin Street Properties is trading up about 7.1% on the day Tuesday.
Before this latest buy, McGillicuddy bought FSP at 3 other times during the past year, for a total cost of $1.09M at an average of $4.36 per share.
And at Avis Budget Group, there was insider buying on Friday, by EVP & Chief Financial Officer Brian J.
Choi who purchased 23,735 shares for a cost of $45.88 each, for a total investment of $1.09M.
This buy marks the first one filed by Choi in the past year.
Avis Budget Group is trading up about 2.5% on the day Tuesday.
So far Choi is in the green, up about 13.6% on their purchase based on today's trading high of $52.14.