Monday 1/27 Insider Buying Report: FAST, TCON Monday, January 27, 10:32 AM 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 Fastenal (FAST), a filing with the SEC revealed that on Thursday, Director Darren R. Jackson purchased 18,000 shares of FAST, at a cost of $35.57 each, for a total investment of $640,231. Bargain hunters can pick up FAST even cheaper than Jackson did, with shares changing hands as low as $34.63 in trading on Monday -- that's 2.6% below Jackson's purchase price. Fastenal is trading off about 1.6% on the day Monday. This buy marks the first one filed by Jackson in the past year.
And also on Thursday, Chief Business Officer Mark C. Wiggins bought $20,102 worth of TRACON Pharmaceuticals (TCON), buying 5,000 shares at a cost of $4.02 each. TRACON Pharmaceuticals is trading off about 3.3% on the day Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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