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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Swift Energy Company (NYSE:SFY), a filing with the SEC revealed that on Friday, Sr. VP, Resource Devel & Eng Steven L. Tomberlin bought 20,000 shares of SFY, for a cost of $18.38 each, for a total investment of $367,629. Swift Energy Company is trading up about 3.6% on the day Tuesday.
And also on Friday, CEO and President Stephen L. Wambold bought $362,274 worth of Ferrellgas Partners, L.P. (NYSE:FGP), buying 31,150 shares at a cost of $11.63 each. Before this latest buy, Wambold purchased FGP on 5 other occasions during the past twelve months, for a total cost of $69,780 at an average of $11.63 per share. Ferrellgas Partners, L.P. is trading up about 0.8% on the day Tuesday. So far Wambold is in the green, up about 39.3% on their purchase based on today's trading high of $16.20.
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