As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Fiesta Restaurant Group, a filing with the SEC revealed that on Friday, Brian P. Friedman bought 160,000 shares of FRGI, for a cost of $18.83 each, for a total investment of $3.01M. Bargain hunters are able to grab FRGI at a price even lower than Friedman did, with the stock trading as low as $18.35 at last check today -- that's 2.5% under Friedman's purchase price. Fiesta Restaurant Group is trading down about 1.1% on the day Tuesday. Before this latest buy, Friedman purchased FRGI at 5 other times during the past year, for a total cost of $28.04M at an average of $20.68 per share.
And also on Friday, Chief Executive Officer William Douglas Toler bought $1.04M worth of Hostess Brands, buying 75,000 shares at a cost of $13.86 each. Before this latest buy, Toler made one other buy in the past twelve months, purchasing $792,500 shares at a cost of $15.85 a piece. Hostess Brands is trading up about 3.7% on the day Tuesday. Bargain hunters are able to snag TWNK at a price even lower than Toler did, with the stock trading as low as $13.42 in trading on Tuesday -- that's 3.2% below Toler's purchase price.
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