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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Winnebago Industries, a filing with the SEC revealed that on Thursday, CEO Michael J. Happe bought 3,000 shares of WGO, at a cost of $37.53 each, for a total investment of $112,577. Investors have the opportunity to grab WGO even cheaper than Happe did, with shares trading as low as $33.62 in trading on Tuesday which is 10.4% below Happe's purchase price. Winnebago Industries is trading up about 6.3% on the day Tuesday. This buy marks the first one filed by Happe in the past twelve months.
And on Monday, CEO Robert H. Spilman Jr. purchased $42,200 worth of Bassett Furniture Industries, purchasing 8,000 shares at a cost of $5.28 each. Before this latest buy, Spilman Jr. bought BSET on 4 other occasions during the past year, for a total cost of $142,003 at an average of $10.59 per share. Bassett Furniture Industries is trading up about 8% on the day Tuesday. Spilman Jr. was up about 22.1% on the purchase at the high point of today's trading session, with BSET trading as high as $6.44 at last check today.
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