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.
At Winnebago Industries (NYSE:WGO), a filing with the SEC revealed that on Tuesday, Director William C. Fisher bought 3,000 shares of WGO, at a cost of $33.80 each, for a total investment of $101,400. Bargain hunters are able to buy WGO at a price even lower than Fisher did, with shares changing hands as low as $32.01 at last check today which is 5.3% under Fisher's purchase price. Winnebago Industries is trading up about 0.1% on the day Thursday.
And on Wednesday, CEO Richard Lampen bought $64,753 worth of Castle Brands (ROX), buying 90,000 shares at a cost of $0.72 a piece. Before this latest buy, Lampen purchased ROX at 11 other times during the past twelve months, for a total cost of $295,360 at an average of $0.77 per share. Castle Brands is trading up about 6.1% on the day Thursday. Lampen was up about 8.4% on the buy at the high point of today's trading session, with ROX trading as high as $0.78 in trading on Thursday.
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