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 Monday, Constellation Brands Inc (NYSE:STZ)'s Director, Jeremy S. G. Fowden, made a $111,554 purchase of STZ, buying 3,080 shares at a cost of $36.22 a piece. Bargain hunters have the opportunity to pick up STZ even cheaper than Fowden did, with the stock changing hands as low as $35.40 at last check today which is 2.3% under Fowden's purchase price. Constellation Brands Inc is trading up about 0.5% on the day Thursday. This purchase marks the first one filed by Fowden in the past twelve months.
And at Bassett Furniture Industries, Inc (NASDAQ:BSET), there was insider buying on Tuesday, by Chairman of the Board Paul Fulton who purchased 2,000 shares for a cost of $13.03 each, for a total investment of $26,059. Before this latest buy, Fulton bought BSET on 3 other occasions during the past year, for a total investment of $81,935 at an average of $9.10 per share. Bassett Furniture Industries, Inc is trading down about 1.4% on the day Thursday. Investors can bag BSET even cheaper than Fulton did, with the stock trading as low as $11.25 at last check today which is 13.7% below Fulton's purchase price.
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