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.
On Thursday, Frequency Electronics (NASDAQ:FEIM)'s CEO, Stanton D. Sloane, made a $220,600 buy of FEIM, purchasing 20,000 shares at a cost of $11.03 a piece. Bargain hunters can bag FEIM at a price even lower than Sloane did, with the stock trading as low as $10.55 in trading on Tuesday which is 4.4% below Sloane's purchase price. Frequency Electronics is trading up about 3.4% on the day Tuesday.
And on Monday, Executive Vice President Mark Zeitchick purchased $39,106 worth of Ladenburg Thalmann Financial Services (AMEX:LTS), purchasing 15,000 shares at a cost of $2.61 a piece. Before this latest buy, Zeitchick purchased LTS on 4 other occasions during the past twelve months, for a total investment of $65,430 at an average of $3.27 per share. Ladenburg Thalmann Financial Services is trading up about 3.5% on the day Tuesday.
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