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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on December 2, DG FastChannel Inc's Chief Executive Officer, Scott K. Ginsburg, invested $124,900.00 into 10,000 shares of DGIT, for a cost per share of $12.49. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Thursday, bargain hunters could buy shares of DG FastChannel Inc (NASDAQ:DGIT) and achieve a cost basis 6.3% cheaper than Ginsburg, with shares changing hands as low as $11.70 per share. DG FastChannel Inc shares are currently trading down about 5.7% on the day. The chart below shows the one year performance of DGIT shares, versus its 200 day moving average:
Looking at the chart above, DGIT's low point in its 52 week range is $11.44 per share, with $38.00 as the 52 week high point — that compares with a last trade of $11.77. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
12/02/2011
Jeffrey A. Rich
Director
5,000
$12.29
$61,450.00
12/02/2011
Scott K. Ginsburg
Chief Executive Officer
10,000
$12.49
$124,900.00
12/01/2011
Cecil H. Moore Jr.
Director
2,500
$12.28
$30,700.00
According to the ETF Finder at ETF Channel, DGIT makes up 2.46% of the SPDR S&P Telecom ETF (AMEX:XTL) which is trading lower by about 2.2% on the day Thursday.
DGIT operates in the Advertising sector, among companies like Insignia Systems, Inc. (NASDAQ:ISIG) which is up about 1.4% today, and Harris Interactive Inc (NASDAQ:HPOL) trading lower by about 7.5%. Below is a three month price history chart comparing the stock performance of DGIT, versus ISIG and HPOL.
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