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, Garrison Capital (GARS)'s CFO and Treasurer, Brian S. Chase, made a $56,720 purchase of GARS, buying 4,000 shares at a cost of $14.18 a piece. Garrison Capital is trading up about 0.7% on the day Friday. Before this latest buy, Chase bought GARS on 2 other occasions during the past year, for a total cost of $52,930 at an average of $14.31 per share.
And on Tuesday, Chairman of the Board Paul Fulton purchased $28,140 worth of Bassett Furniture Industries (BSET), purchasing 2,000 shares at a cost of $14.07 a piece. Before this latest buy, Fulton bought BSET on 4 other occasions during the past twelve months, for a total cost of $120,343 at an average of $15.04 per share. Bassett Furniture Industries is trading up about 0.5% on the day Friday. Investors can buy BSET at a price even lower than Fulton did, with shares changing hands as low as $13.67 at last check today which is 2.8% below Fulton's purchase price.
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