Friday 8/29 Insider Buying Report: PFLT
The Online Investor - Fri., Aug. 29, 2:58 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 cash to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
At Pennantpark Floating Rate Capital (PFLT), a filing with the SEC revealed that on Tuesday, Director Samuel L. Katz bought 7,969 shares of PFLT, for a cost of $14.16 each, for a total investment of $112,871. Pennantpark Floating Rate Capital is trading off about 0.1% on the day Friday. Before this latest buy, Katz purchased PFLT at 2 other times during the past twelve months, for a total investment of $32,590 at an average of $13.98 per share.