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 Tuesday, Kingsway Financial Services' Executive Vice President, John Taylor Maloney Fitzgerald, made a $39,828 purchase of KFS, buying 7,454 shares at a cost of $5.34 a piece. Investors have the opportunity to pick up KFS at a price even lower than Fitzgerald did, with the stock changing hands as low as $5.21 in trading on Thursday -- that's 2.5% under Fitzgerald's purchase price. Kingsway Financial Services is trading trading flat on the day Thursday. Before this latest buy, Fitzgerald bought KFS at 47 other times during the past year, for a total investment of $784,482 at an average of $5.10 per share.
And on Wednesday, Director Walter J. Mullen III bought $20,292 worth of Bank of the Ozarks, buying 530 shares at a cost of $38.29 each. Before this latest buy, Mullen III made one other purchase in the past year, buying $23,166 shares at a cost of $38.61 a piece. Bank of the Ozarks is trading off about 1.6% on the day Thursday. Investors can pick up OZRK even cheaper than Mullen III did, with the stock changing hands as low as $36.53 at last check today which is 4.6% under Mullen III's purchase price.
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