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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Fastenal Co. (NASDAQ:FAST)'s Director, Scott Satterlee, made a $101,818 buy of FAST, purchasing 2,000 shares at a cost of $50.91 each. So far Satterlee is in the green, up about 2.3% on their buy based on today's trading high of $52.08. Fastenal Co. is trading up about 1.3% on the day Wednesday. This buy marks the first one filed by Satterlee in the past twelve months.
And at Rand Logistics Inc (RLOG), there was insider buying on Tuesday, by President Edward Levy who purchased 13,000 shares for a cost of $5.68 each, for a total investment of $73,840. Before this latest buy, Levy purchased RLOG on 2 other occasions during the past year, for a total cost of $44,395 at an average of $8.35 per share. Rand Logistics Inc is trading up about 1.6% on the day Wednesday. Levy was up about 3.9% on the purchase at the high point of today's trading session, with RLOG trading as high as $5.90 in trading on Wednesday.
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