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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At FedEx, a filing with the SEC revealed that on Monday, Director R. Brad Martin purchased 1,500 shares of FDX, at a cost of $143.41 each, for a total investment of $215,120. Martin was up about 2.8% on the buy at the high point of today's trading session, with FDX trading as high as $147.45 at last check today. FedEx Corp is trading up about 1.1% on the day Wednesday.
And also on Monday, Patrick A. Maciariello purchased $118,290 worth of Compass Diversified, purchasing 6,500 shares at a cost of $18.20 each. Before this latest buy, Maciariello made one other purchase in the past twelve months, buying $139,729 shares for a cost of $23.29 each. Compass Diversified is trading up about 3.5% on the day Wednesday. Maciariello was up about 3.1% on the buy at the high point of today's trading session, with CODI trading as high as $18.77 at last check today.
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