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 Delta Air Lines, Inc. (NYSE:DAL), a filing with the SEC revealed that on Tuesday, Director Kenneth Woodrow purchased 25,000 shares of DAL, at a cost of $8.72 each, for a total investment of $217,928. Investors can pick up DAL at a price even lower than Woodrow did, with shares trading as low as $8.51 at last check today -- that's 2.4% below Woodrow's purchase price. Delta Air Lines, Inc. is trading off about 0.3% on the day Thursday. This buy marks the first one filed by Woodrow in the past twelve months.
And at Fifth Street Finance Corporation (FSC), there was insider buying on Tuesday, by CEO Leonard M. Tannenbaum who bought 10,000 shares at a cost of $10.47 each, for a trade totaling $104,750. Before this latest buy, Tannenbaum purchased FSC at 3 other times during the past year, for a total investment of $580,023 at an average of $9.67 per share. Fifth Street Finance Corporation is trading off about 0.9% on the day Thursday.
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