Bargain hunters are wise to pay close attention to insider buying, because while there are many different reasons for an insider to sell a stock, the only reason they would likely use their hard-earned money to making a purchase is that he expects to make money. Today we take a look at two notable recent insider buys.
At Fidelity D&D Bancorp, an SEC filing revealed that Vice Chairman Michael J. McDonald on Wednesday purchased 1,000 shares of FDBC, priced at $41.60 each, for a total investment of $41,600. Investors can buy FDBC at an even lower price than McDonald’s, with shares trading at $39.17 at last check today, 5.8% below McDonald’s buy price. Fidelity D&D Bancorp Inc is trading up about 0.4% on Thursday. Prior to this latest purchase, McDonald’s purchased FDBC on 7 other occasions over the past twelve months, for a total cost of $161,941 at an average of $44.37 per share.
And at Texas Pacific Land, there was some insider buying on Monday, with manager Murray Stahl buying 22 shares at a cost of $1,538.64 each, for a total investment of $33,850. Prior to this latest purchase, Stahl purchased TPL on 254 other occasions over the past year, for a total investment of $7.05 million at an average of $1,332.78 per share. Texas Pacific Land Corp is trading down about 1.2% on Thursday. Bargain hunters can buy TPL at an even lower price than Stahl, with the stock trading as low as $1,475.50 on Thursday, 4.1% below Stahl’s buy price.
VIDEO: Thursday 6/30 Insider Buying Report: FDBC, TPL
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