Wednesday 8/20 Insider Buying Report: FSFR
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 one noteworthy recent insider buy.
On Tuesday, CEO Leonard M. Tannenbaum purchased $2.88M worth of Fifth Street Senior Floating Rate ( FSFR ), purchasing 225,437 shares at a cost of $12.76 a piece. Before this latest buy, Tannenbaum purchased FSFR at 9 other times during the past twelve months, for a total cost of $4.49M at an average of $14.01 per share. Fifth Street Senior Floating Rate is trading trading flat on the day Wednesday. Investors can snag FSFR at a price even lower than Tannenbaum did, with the stock changing hands as low as $12.30 at last check today which is 3.6% under Tannenbaum's purchase price.
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