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, Fidelity Southern's Director, Rankin M. Smith Jr., made a $305,000 purchase of LION, buying 10,000 shares at a cost of $30.50 each. Smith Jr. was up about 1.1% on the purchase at the high point of today's trading session, with LION trading as high as $30.85 at last check today. Fidelity Southern is trading off about 0.4% on the day Tuesday. Before this latest buy, Smith Jr. made one other buy in the past year, purchasing $378,746 shares at a cost of $25.25 a piece.
And on Friday, EVP, Chief Financial Officer Ronald James Domanico purchased $217,170 worth of Brinks, purchasing 3,000 shares at a cost of $72.39 a piece. Before this latest buy, Domanico made one other purchase in the past year, buying $138,900 shares for a cost of $69.45 each. Brinks is trading up about 0.8% on the day Tuesday. So far Domanico is in the green, up about 5.2% on their purchase based on today's trading high of $76.14.
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