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Top Buys by Top Brass: CEO Tannenbaum's $380.1K Bet on FSC

By Dividend Channel Staff, Thursday, June 14, 12:02 PM ET
Play Video: One Reason For Insiders to Buy

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A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. 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 maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $380.1K invested across 2 purchases by Leonard M. Tannenbaum, CEO at Fifth Street Finance Corporation (FSC).

Tannenbaum bets big on FSC:

Purchased Insider Title Shares Price/Share Value
03/06/2012 Leonard M. Tannenbaum CEO 30,000 $9.57 $287,245.13
05/24/2012 Leonard M. Tannenbaum CEO 10,000 $9.29 $92,899.97

Tannenbaum's average cost works out to $9.50/share. Shares of Fifth Street Finance Corporation were changing hands at $9.60 at last check, trading up about 0.5% on Thursday. The chart below shows the one year performance of FSC shares, versus its 200 day moving average:

Fifth Street Finance Corporation Chart

Looking at the chart above, FSC's low point in its 52 week range is $8.38 per share, with $12.00 as the 52 week high point that compares with a last trade of $9.60.

The current annualized dividend paid by Fifth Street Finance Corporation is $1.1496/share, currently paid in monthly installments, and its most recent dividend has an upcoming ex-date of 07/11/2012. Below is a long-term dividend history chart for FSC, which can be of good help in judging whether the most recent dividend with approx. 12.0% annualized yield is likely to continue.

According to the ETF Finder at ETF Channel, FSC makes up 1.82% of the SPDR S&P Capital Markets ETF (AMEX:KCE) which is trading up by about 0.5% on the day Thursday.

See what other ETFs contain FSC
See what other stocks are held by KCE

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