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 (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 (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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