Top Buys by Directors: Martinez's $393.5K Bet on ANF

Feb 28 2014, 2:35pm CST | by

The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $393.5K by Arthur C. Martinez, Director at Abercrombie & Fitch Co. (NYSE: ANF).

Click here to find out which other top insider buys by company directors you need to know about »

Martinez bets big on ANF:

Purchased Insider Title Shares Price/Share Value
02/27/2014 Arthur C. Martinez Director 10,000 $39.35 $393,500.00

Martinez’s average cost works out to $39.35/share. In trading on Friday, bargain hunters could buy shares of Abercrombie & Fitch Co. (NYSE: ANF) and achieve a cost basis lower than Martinez, with shares changing hands as low as $38.72 per share. Shares of Abercrombie & Fitch Co. were changing hands at $39.50 at last check, trading up about 1.6% on Friday. The chart below shows the one year performance of ANF shares, versus its 200 day moving average:

Looking at the chart above, ANF’s low point in its 52 week range is $31.14 per share, with $55.23 as the 52 week high point — that compares with a last trade of $39.50.

According to the ETF Finder at ETFChannel.com, ANF makes up 1.39% of the First Trust Consumer Discretionary AlphaDEX Fund ETF (AMEX: FXD) which is trading lower by about 0.2% on the day Friday.


Special Offer: Free Sample Issue to the Preferred Stock List Newsletter plus 20% OFF your subscription

Source: Forbes Business

/>/>
 
 
 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Need for Speed Reboot is Coming This Fall
Need for Speed Reboot is Coming This Fall
EA will release a complete new Need for Speed this fall. The video game giant just released a teaser video and the first Need for Speed Gameplay video will be revealed in June.
 
 
Google Self-Driving Cars to Hit Public Roads this Summer
Google Self-Driving Cars to Hit Public Roads this Summer
Google announced today that Google Car prototype vehicles will leave the test track and hit the familiar roads of Mountain View.
 
 
Google Search Analytics Launched in Web Master Tools
Google Search Analytics Launched in Web Master Tools
Google officially announced the new Search Analytics feature in Webmaster tools.
 
 
T-Mobile Hits Verizon with new 'Never Settle Trial' Campaign
T-Mobile Hits Verizon with new 'Never Settle Trial' Campaign
In case customers don't feel satisfied, T-Mobile will pay for them to shift back to Verizon