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.
At Destination Maternity, a filing with the SEC revealed that on Friday, Director Barry Erdos purchased 15,000 shares of DEST, for a cost of $2.83 each, for a total investment of $42,390. Bargain hunters can snag DEST even cheaper than Erdos did, with the stock trading as low as $2.77 in trading on Wednesday -- that's 2.0% below Erdos's purchase price. Destination Maternity is trading down about 1.2% on the day Wednesday.
And also on Friday, Director Gregory P. Chandler purchased $9,963 worth of FS Investment, purchasing 1,324 shares at a cost of $7.53 each. Before this latest buy, Chandler made one other purchase in the past year, buying $4,995 shares for a cost of $7.40 a piece. FS Investment is trading down about 0.7% on the day Wednesday. Investors can bag FSIC even cheaper than Chandler did, with shares changing hands as low as $7.35 in trading on Wednesday -- that's 2.3% below Chandler's purchase price.
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