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 Monday, Weis Markets' SVP, Chief Financial Officer, Scott F. Frost, made a $25,710 purchase of WMK, buying 600 shares at a cost of $42.85 each. Weis Markets, is trading up about 0.1% on the day Friday. Before this latest buy, Frost bought WMK at 2 other times during the past twelve months, for a total investment of $38,692 at an average of $44.22 per share.
And on Tuesday, CFO Harold Russell Heiser Jr. bought $25,550 worth of FlexShopper, buying 5,000 shares at a cost of $5.11 a piece. Before this latest buy, Heiser Jr. bought FPAY at 2 other times during the past year, for a total investment of $136,561 at an average of $4.37 per share. FlexShopper is trading up about 3.1% on the day Friday. Investors have the opportunity to bag FPAY at a price even lower than Heiser Jr. did, with shares trading as low as $4.89 in trading on Friday -- that's 4.3% below Heiser Jr.'s purchase price.
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