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 Friday, Superior Drilling Products (AMEX:SDPI)'s Director, Robert Iversen, made a $14,663 buy of SDPI, purchasing 10,000 shares at a cost of $1.47 each. Investors can buy SDPI at a price even lower than Iversen did, with the stock changing hands as low as $1.43 in trading on Wednesday -- that's 2.7% below Iversen's purchase price. Superior Drilling Products is trading up about 2.1% on the day Wednesday. Before this latest buy, Iversen made one other buy in the past twelve months, purchasing $24,840 shares at a cost of $0.69 a piece.
And also on Friday, Director Gregory P. Chandler purchased $4,995 worth of FS Investment (FSIC), purchasing 675 shares at a cost of $7.40 a piece. Before this latest buy, Chandler bought FSIC on 2 other occasions during the past twelve months, for a total cost of $29,967 at an average of $9.70 per share. FS Investment is trading up about 2% on the day Wednesday. Chandler was up about 4.1% on the buy at the high point of today's trading session, with FSIC trading as high as $7.70 in trading on Wednesday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.