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WPG

Snatch This Bargain 15.2% Yielder Even Cheaper Than Chief Executive Officer Conforti Did

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on September 20, Washington Prime Group 's Chief Executive Officer, Louis G. Conforti, invested $99,986.57 into 13,857 shares of WPG, for a cost per share of $7.22. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of Washington Prime Group (Symbol: WPG) and achieve a cost basis 8.7% cheaper than Conforti, with shares changing hands as low as $6.59 per share. Washington Prime Group shares are currently trading up about 1.6% on the day. The chart below shows the one year performance of WPG shares, versus its 200 day moving average:

Washington Prime Group Chart

Looking at the chart above, WPG's low point in its 52 week range is $5.40 per share, with $8.87 as the 52 week high point - that compares with a last trade of $6.67. By comparison, below is a table showing the prices at which WPG insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
08/08/2018 Louis G. Conforti Chief Executive Officer 20,500 $7.31 $149,801.70
09/20/2018 Louis G. Conforti Chief Executive Officer 13,857 $7.22 $99,986.57

The current annualized dividend paid by Washington Prime Group is $1/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 08/31/2018. Below is a long-term dividend history chart for WPG, which can be of good help in judging whether the most recent dividend with approx. 15.2% annualized yield is likely to continue.

WPG+Dividend+History+Chart

Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »

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


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

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