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 (NASDAQ: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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