As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Thursday, Herbalife Ltd. (NYSE:HLF)'s Director, Michael J. Levitt, made a $465,900 purchase of HLF, buying 10,000 shares at a cost of $46.59 a piece. Investors can bag HLF at a price even lower than Levitt did, with the stock trading as low as $43.01 at last check today which is 7.7% under Levitt's purchase price. Herbalife Ltd. is trading down about 4% on the day Monday. This purchase marks the first one filed by Levitt in the past twelve months.
And also on Thursday, CFO Mike Kovar bought $316,582 worth of Fossil, Inc. (FOSL), buying 4,000 shares at a cost of $79.15 each. Before this latest buy, Kovar made one other buy in the past twelve months, purchasing $149,139 shares at a cost of $74.57 a piece. Fossil, Inc. is trading down about 2.1% on the day Monday. Bargain hunters have the opportunity to buy FOSL even cheaper than Kovar did, with shares trading as low as $76.86 at last check today which is 2.9% below Kovar's purchase price.
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