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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, Full Circle Capital (FULL)'s President and Co-CEO, Gregg J. Felton, made a $861,005 purchase of FULL, buying 116,352 shares at a cost of $7.40 each. Felton was up about 8.0% on the purchase at the high point of today's trading session, with FULL trading as high as $7.99 in trading on Monday. Full Circle Capital is trading up about 2.4% on the day Monday. Before this latest buy, Felton purchased FULL on 4 other occasions during the past year, for a total investment of $135,161 at an average of $7.40 per share.
And at Enable Midstream Partners (NYSE:ENBL), there was insider buying on Thursday, by CEO Lynn L. Bourdon III who purchased 10,000 shares at a cost of $23.60 each, for a total investment of $235,980. Before this latest buy, Bourdon III made one other buy in the past year, purchasing $500,000 shares for a cost of $20.00 each. Enable Midstream Partners is trading up about 1.2% on the day Monday. So far Bourdon III is in the green, up about 1.8% on their purchase based on today's trading high of $24.03.
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