ETF Channel Staff - Thursday, June 30, 2:14 PM
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 Fidelity D&D Bancorp, a filing with the SEC revealed that on Wednesday, Vice Chairman Michael J. McDonald bought 1,000 shares of FDBC, at a cost of $41.60 each, for a total investment of $41,600. Investors are able to buy FDBC at a price even lower than McDonald did, with shares trading as low as $39.17 at last check today which is 5.8% under McDonald's purchase price. Fidelity D&D Bancorp Inc is trading up about 0.4% on the day Thursday. Before this latest buy, McDonald bought FDBC on 7 other occasions during 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 insider buying on Monday, by Director Murray Stahl who purchased 22 shares at a cost of $1538.64 each, for a total investment of $33,850. Before this latest buy, Stahl purchased TPL on 254 other occasions during the past year, for a total investment of $7.05M at an average of $1332.78 per share. Texas Pacific Land Corp is trading down about 1.2% on the day Thursday. Bargain hunters can buy TPL at a price even lower than Stahl did, with the stock trading as low as $1475.50 in trading on Thursday -- that's 4.1% below Stahl's purchase price.
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