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 First Data, a filing with the SEC revealed that on Wednesday, Executive Vice President Jeff Shanahan purchased 72,466 shares of FDC, for a cost of $18.21 each, for a total investment of $1.32M. So far Shanahan is in the green, up about 1.9% on their purchase based on today's trading high of $18.55. First Data is trading up about 0.3% on the day Friday. Before this latest buy, Shanahan purchased FDC at 3 other times during the past twelve months, for a total investment of $4.19M at an average of $17.94 per share.
And at LendingTree, there was insider buying on Thursday, by Director G. Kennedy Thompson who purchased 5,000 shares for a cost of $230.91 each, for a total investment of $1.15M. LendingTree is trading up about 2.1% on the day Friday.
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