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 (NASDAQ: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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