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.
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.
On Monday, Flotek Industries' Director, David Nierenberg, made a $1.38M buy of FTK, purchasing 690,147 shares at a cost of $2.00 a piece.
So far Nierenberg is in the green, up about 17.7% on their buy based on today's trading high of $2.35.
Flotek Industries is trading up about 1.8% on the day Thursday.
Before this latest buy, Nierenberg bought FTK on 2 other occasions during the past twelve months, for a total cost of $926,748 at an average of $2.43 per share.
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..
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..
