Friday 7/24 Insider Buying Report: FTI, WIBC Friday, July 24, 10:43 AM ET
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 FMC Technologies (FTI), a filing with the SEC revealed that on Thursday, COO Doug Pferdehirt bought 30,304 shares of FTI, at a cost of $33.00 each, for a total investment of $1.00M. Bargain hunters have the opportunity to grab FTI at a price even lower than Pferdehirt did, with the stock changing hands as low as $32.24 at last check today which is 2.3% below Pferdehirt's purchase price. FMC Technologies is trading up about 1.7% on the day Friday.
And at Wilshire Bancorp (WIBC), there was insider buying on Thursday, by Jae Whan Yoo who purchased 11,000 shares at a cost of $12.11 each, for a trade totaling $133,166. Before this latest buy, Yoo made one other purchase in the past twelve months, buying $105,149 shares at a cost of $9.56 a piece. Wilshire Bancorp is trading down about 0.5% on the day Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
|