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Will Insiders Be Tempted To Buy More FSIC At The New 52-Week Low?

By Market News Video Staff, Monday, October 1, 1:42 PM ET
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In trading on Monday, shares of FS Investment Corporation (FSIC) touched a new 52-week low of $6.95/share. That's a $1.80 share price drop, or -20.57% decline from the 52-week high of $8.75 set back on 10/06/2017. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for FSIC that means the stock would have to gain 25.90% to get back to the 52-week high. For a move like that, FS Investment Corporation would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as FSIC shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, FSIC has seen 3 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
04/02/2018 Michael C. Forman Chief Executive Officer 100 $7.15 $715.00
04/20/2018 Gregory P. Chandler Director 1,324 $7.53 $9,963.10
04/30/2018 Gregory P. Chandler Director 1,328 $7.53 $9,993.20
08/15/2018 James Francis Volk Chief Compliance Officer 316 $7.52 $2,377.84

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where FSIC has traded over the past year, with the 50-day and 200-day moving averages included.

FS Investment Corporation Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for FSIC shares, which are presently showing a last trade of $6.99/share, slightly above the new 52-week low.

This Article's Word Cloud:   Bargains   Chandler   Cheaper   Chief   Compliance   Corporation   Director   Executive   FSIC   Forman   Francis   Gregory   Here   Insider   Insiders   Investment   James   Large   Michael   Monday   Officer   Oftentimes   Price   Purchased   Share   Shares   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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