Monday 9/29 Insider Buying Report: DNOW, FSIC Monday, September 29, 12:47 PM ET
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 two noteworthy recent insider buys.
At Now (DNOW), a filing with the SEC revealed that on Thursday, CEO Robert R. Workman bought 10,646 shares of DNOW, at a cost of $30.68 each, for a total investment of $326,630. Now is trading up about 0.9% on the day Monday. Before this latest buy, Workman made one other buy in the past year, purchasing $242,863 shares for a cost of $30.74 each.
And at FS Investment (FSIC), there was insider buying on Thursday, by Chief Executive Officer Michael C. Forman who purchased 27,400 shares for a cost of $10.34 each, for a total investment of $283,413. Before this latest buy, Forman purchased FSIC on 6 other occasions during the past year, for a total cost of $4.19M at an average of $10.33 per share. FS Investment is trading up about 0.8% on the day Monday. So far Forman is in the green, up about 3.0% on their buy based on today's trading high of $10.65.
For MarketNewsVideo.com, I'm Sayoko Murase.
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