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 Friday, Fiesta Restaurant Group's, Brian P. Friedman, made a $6.53M buy of FRGI, purchasing 309,115 shares at a cost of $21.12 each. Friedman was up about 3.2% on the buy at the high point of today's trading session, with FRGI trading as high as $21.80 in trading on Wednesday. Fiesta Restaurant Group is trading down about 1.4% on the day Wednesday. Before this latest buy, Friedman purchased FRGI at 4 other times during the past twelve months, for a total investment of $21.52M at an average of $20.55 per share.
And also on Friday, Chief Executive Officer Michael S. Dell bought $1.14M worth of Dell Technologies, buying 44,672 shares at a cost of $25.60 a piece. Before this latest buy, Dell bought DVMT at 4 other times during the past twelve months, for a total cost of $31.14M at an average of $27.55 per share. Dell Technologies is trading up about 0.1% on the day Wednesday. Dell was up about 147.3% on the purchase at the high point of today's trading session, with DVMT trading as high as $63.31 in trading on Wednesday.
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