Thursday 7/30 Insider Buying Report: MINI, FSIC
The Online Investor - 16 hours, 26 minutes ago
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 Mobile Mini (MINI), a filing with the SEC revealed that on Monday, Director Lawrence Trachtenberg purchased 7,000 shares of MINI, at a cost of $34.87 each, for a total investment of $244,097. So far Trachtenberg is in the green, up about 3.0% on their purchase based on today's trading high of $35.91. Mobile Mini is trading up about 0.7% on the day Thursday. This purchase marks the first one filed by Trachtenberg in the past year.
And at FS Investment Corporation (FSIC), there was insider buying on Monday, by Chief Executive Officer Michael C. Forman who bought 24,140 shares for a cost of $9.76 each, for a trade totaling $235,521. Before this latest buy, Forman purchased FSIC at 9 other times during the past twelve months, for a total cost of $4.68M at an average of $10.31 per share. FS Investment Corporation is trading down about 0.1% on the day Thursday. Forman was up about 3.6% on the purchase at the high point of today's trading session, with FSIC trading as high as $10.11 in trading on Thursday.