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 FinTech Acquisition Corp II (NASDAQ:FNTE), a filing with the SEC revealed that on Friday, Director Betsy Z. Cohen purchased 500,000 shares of FNTE, for a cost of $10.05 each, for a total investment of $5.03M. FinTech Acquisition Corp II is trading up about 0.3% on the day Monday.
And at Marriott Vacations Worldwide Corp. (NYSE:VAC), there was insider buying on Thursday, by CEO Stephen P. Weisz who purchased 3,500 shares at a cost of $108.43 each, for a total investment of $379,505. Before this latest buy, Weisz made one other purchase in the past year, buying $478,276 shares at a cost of $117.86 a piece. Marriott Vacations Worldwide Corp. is trading up about 1.3% on the day Monday. So far Weisz is in the green, up about 5.9% on their purchase based on today's trading high of $114.82.
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