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 Wednesday, FS KKR Capital Corp (NYSE:FSK)'s Chief Executive Officer, Michael C. Forman, made a $249,413 purchase of FSK, buying 40,480 shares at a cost of $6.16 a piece. Bargain hunters have the opportunity to grab FSK even cheaper than Forman did, with the stock trading as low as $6.02 in trading on Thursday — that's 2.3% under Forman's purchase price. FS KKR Capital Corp is trading up about 0.2% on the day Thursday. Before this latest buy, Forman purchased FSK at 10 other times during the past twelve months, for a total cost of $6.95M at an average of $5.31 per share.
And at Health Insurance Innovations (NASDAQ:HIIQ), there was insider buying on Wednesday, by Director Paul G. Gabos who bought 8,000 shares for a cost of $29.91 each, for a trade totaling $239,254. Health Insurance Innovations is trading up about 3.4% on the day Thursday. Gabos was up about 6.1% on the purchase at the high point of today's trading session, with HIIQ trading as high as $31.73 at last check today.
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