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 Alta Equipment Group, a filing with the SEC revealed that on Monday, Zachary E. Savas purchased 5,000 shares of ALTG, at a cost of $9.74 each, for a total investment of $48,705. Bargain hunters can pick up ALTG at a price even lower than Savas did, with the stock trading as low as $9.25 in trading on Wednesday -- that's 5.0% below Savas's purchase price. Alta Equipment Group is trading up about 2.4% on the day Wednesday. Before this latest buy, Savas made one other purchase in the past twelve months, buying $142,141 shares for a cost of $14.21 each.
And at FS Credit Opportunities, there was insider buying on Tuesday, by Director Philip E. Hughes Jr. who purchased 5,000 shares for a cost of $5.65 each, for a trade totaling $28,257. Before this latest buy, Hughes Jr. made one other purchase in the past twelve months, buying $34,799 shares at a cost of $4.35 each. FS Credit Opportunities is trading off about 0.3% on the day Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
