As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let's look at two noteworthy recent insider buys.
On Thursday, Conagra Brands (NYSE:CAG)'s Director, Craig P. Omtvedt, made a $1.36M buy of CAG, purchasing 40,000 shares at a cost of $33.99 each. Bargain hunters can snag CAG at a price even lower than Omtvedt did, with the stock trading as low as $33.41 in trading on Monday — that's 1.7% below Omtvedt's purchase price. Conagra Brands is trading up about 1% on the day Monday. Before this latest buy, Omtvedt made one other purchase in the past twelve months, buying $668,250 shares for a cost of $26.73 a piece.
And at Flexsteel Industries (NASDAQ:FLXS), there was insider buying on Thursday, by CEO Jerald K. Dittmer who bought 1,000 shares at a cost of $20.01 each, for a trade totaling $20,010. Before this latest buy, Dittmer bought FLXS at 2 other times during the past year, for a total investment of $156,800 at an average of $15.68 per share. Flexsteel Industries is trading down about 0.8% on the day Monday.
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