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.
At Fifth Street Senior Floating Rate Corp. (FSFR), a filing with the SEC revealed that on Thursday, CEO Leonard M. Tannenbaum bought 85,870 shares of FSFR, for a cost of $14.33 each, for a total investment of $1.23M. Tannenbaum was up about 1.1% on the buy at the high point of today's trading session, with FSFR trading as high as $14.49 at last check today. Fifth Street Senior Floating Rate Corp. is trading trading flat on the day Friday. Before this latest buy, Tannenbaum bought FSFR at 11 other times during the past year, for a total investment of $4.75M at an average of $13.95 per share.
And on Wednesday, Director John Van Heuvelen purchased $251,000 worth of Orchid Island Capital (NYSE:ORC), purchasing 20,000 shares at a cost of $12.55 each. Before this latest buy, Heuvelen purchased ORC on 2 other occasions during the past twelve months, for a total investment of $187,601 at an average of $11.73 per share. Orchid Island Capital is trading up about 0.4% on the day Friday. Investors can snag ORC at a price even lower than Heuvelen did, with the stock trading as low as $12.28 in trading on Friday -- that's 2.2% under Heuvelen's purchase price.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.