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.
At Lovesac, a filing with the SEC revealed that on Wednesday, Director Andrew R. Heyer bought 22,000 shares of LOVE, for a cost of $19.72 each, for a total investment of $433,746. So far Heyer is in the green, up about 8.0% on their purchase based on today's trading high of $21.29. Lovesac is trading up about 4.2% on the day Friday. Before this latest buy, Heyer purchased LOVE at 2 other times during the past year, for a total investment of $318,510 at an average of $24.75 per share.
And at Fastenal, there was insider buying on Wednesday, by Daniel L. Johnson who purchased 3,350 shares at a cost of $68.38 each, for a trade totaling $229,056. Fastenal is trading up about 0.5% on the day Friday. Bargain hunters can buy FAST at a price even lower than Johnson did, with shares changing hands as low as $67.34 at last check today -- that's 1.5% below Johnson's purchase price.
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