Thursday 5/21 Insider Buying Report: FBIN, MP
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.
On Wednesday, Fortune Brands Innovations' Director, Edward P. Garden, made a $13.66M buy of FBIN, purchasing 408,900 shares at a cost of $33.40 a piece. Garden was up about 8.9% on the purchase at the high point of today's trading session, with FBIN trading as high as $36.38 in trading on Thursday. Fortune Brands Innovations is trading up about 1.4% on the day Thursday. This buy marks the first one filed by Garden in the past year.
And also on Wednesday, Chief Operating Officer Michael Stuart Rosenthal bought $962,540 worth of MP Materials, buying 17,000 shares at a cost of $56.62 each. MP Materials is trading up about 7.3% on the day Thursday. So far Rosenthal is in the green, up about 8.3% on their purchase based on today's trading high of $61.30.
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