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.
At Synchrony Financial, a filing with the SEC revealed that on Tuesday, Director P.W. Parker bought 10,000 shares of SYF, for a cost of $23.32 each, for a total investment of $233,200. Bargain hunters can grab SYF at a price even lower than Parker did, with the stock changing hands as low as $22.78 in trading on Friday which is 2.3% below Parker's purchase price. Synchrony Financial is trading off about 0.5% on the day Friday. This buy marks the first one filed by Parker in the past year.
And on Wednesday, Director Ari B. Levy purchased $184,305 worth of Del Taco Restaurants, purchasing 24,900 shares at a cost of $7.40 each. Before this latest buy, Levy made one other purchase in the past year, buying $606,304 shares at a cost of $2.64 each. Del Taco Restaurants Inc is trading up about 1.4% on the day Friday.
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