Wednesday 7/30 Insider Buying Report: PENN, FISI

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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.

On Tuesday, Penn National Gaming ( PENN )'s EVP-Chief Operating Officer, Jay A. Snowden, made a $118,885 purchase of PENN, buying 11,500 shares at a cost of $10.34 a piece. So far Snowden is in the green, up about 3.5% on their buy based on today's trading high of $10.70. Penn National Gaming is trading up about 2.3% on the day Wednesday.

And at Financial Institutions ( FISI ), there was insider buying on Monday, by CEO Martin Kearney Birmingham who purchased 5,000 shares for a cost of $22.51 each, for a total investment of $112,550. Before this latest buy, Birmingham purchased FISI on 2 other occasions during the past twelve months, for a total cost of $210,346 at an average of $21.03 per share. Financial Institutions is trading off about 0.6% on the day Wednesday.

Wednesday 7/30 Insider Buying Report: PENN, FISI VIDEO: Wednesday 7/30 Insider Buying Report: PENN, FISI



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas

Referenced Stocks: PENN , FISI

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