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Top Buys by Top Brass: CFO Kovar's $462.3K Bet on FOSL

By Market News Video Staff, Monday, July 30, 12:56 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 $462.3K invested across 2 purchases by Mike Kovar, CFO at Fossil, Inc. (NASDAQ:FOSL).

Kovar bets big on FOSL:

Purchased Insider Title Shares Price/Share Value
05/10/2012 Mike Kovar Executive V.P. and CFO 4,000 $79.15 $316,582.00
05/16/2012 Mike Kovar Executive V.P. and CFO 2,000 $72.86 $145,712.00

Kovar's average cost works out to $77.05/share. In trading on Monday, bargain hunters could buy shares of Fossil, Inc. (NASDAQ:FOSL) and achieve a cost basis lower than Kovar, with shares changing hands as low as $73.83 per share. Shares of Fossil, Inc. were changing hands at $74.04 at last check, trading down about 3.6% on Monday. The chart below shows the one year performance of FOSL shares, versus its 200 day moving average:

Fossil, Inc. Chart

Looking at the chart above, FOSL's low point in its 52 week range is $62.77 per share, with $139.20 as the 52 week high point that compares with a last trade of $74.04.

FOSL makes up 1.00% of the Direxion NASDAQ-100 Equal Weighted Index Shares ETF (AMEX:QQQE)


Special Offer: Find out how Dave Moenning is trading around the most recent insider transactions with a free 30 day trial .


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Top Buys by Top Brass: CFO Kovar's $462.3K Bet on FOSL | Market News Video | Copyright © 2008 - 2014, All Rights Reserved

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