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 Restaurant Brands International, a filing with the SEC revealed that on Monday, Director John F. Prato bought 3,000 shares of QSR, for a cost of $67.91 each, for a total investment of $203,730. Investors have the opportunity to bag QSR at a price even lower than Prato did, with shares trading as low as $66.75 in trading on Friday -- that's 1.7% below Prato's purchase price. Restaurant Brands International is trading down about 1.6% on the day Friday.
And at First Guaranty Bancshares, there was insider buying on Monday, by Director William K. Hood who bought 9,502 shares at a cost of $19.35 each, for a total investment of $183,864. Before this latest buy, Hood bought FGBI at 3 other times during the past twelve months, for a total cost of $207,892 at an average of $18.58 per share. First Guaranty Bancshares is trading off about 1.8% on the day Friday. Bargain hunters are able to snag FGBI even cheaper than Hood did, with shares trading as low as $18.75 in trading on Friday which is 3.1% below Hood's purchase price.
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