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 Federated Investors Inc (NYSE:FII), a filing with the SEC revealed that on Monday, Director Michael J. Farrell bought 47,500 shares of FII, at a cost of $17.16 each, for a total investment of $815,112. Farrell was up about 7.6% on the purchase at the high point of today's trading session, with FII trading as high as $18.47 in trading on Thursday. Federated Investors Inc is trading up about 2.7% on the day Thursday. This purchase marks the first one filed by Farrell in the past twelve months.
And at Starbucks Corp. (NASDAQ:SBUX), there was insider buying on Monday, by Director Myron E. Ullman III who bought 10,000 shares at a cost of $47.68 each, for a trade totaling $476,835. Before this latest buy, Ullman made one other purchase in the past year, buying $352,637 shares at a cost of $35.26 a piece. Starbucks Corp. is trading off about 0.1% on the day Thursday. So far Ullman is in the green, up about 1.7% on their purchase based on today's trading high of $48.49.
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