CFO Buying at HAS
The CFO at Hasbro Inc. (HAS) has bought 10,000 shares, at $22.87 (total of $228,700). Previously, he bought 10,000 shares in Feb 2009. HAS is currently trading at 24.08. – Ilene
Here’s what insider guru Dave Borland says about the trade:
"The i-buy amount and job title identify this as a potentially bullish insider purchase. But deep stocks and midcap stocks have historically been sluggish movers in response to anything but major i-buys, and $229k would never be considered major. HAS trades about $65 million daily, enough to absorb the buying by i-buy followers (like us) without too much impact. We bought some shares because has HAS historically been a deep midcap that worked, and it did work for about 1 1/2%, but no more…so far. As a general rule, midcaps and deep stock are far more prone to program trading and gap filling. Instead of momentum traders causing them to run, price pops are met with selling."
Trade Information (via Insider Cow):
| Buy(P) / Sell(S) |
P/S date | Filed Date | Company | Symbol | Insider | Relationship | Share Amt. | Unit Price | Total Proceeds | Shares Owned | ||
| P | 5-15-09 | 5-19-09 11:31:48 | Hasbro Inc. | HAS | HARGREAVES DAVID D R | CFO | 10,000 | $22.87 | $228,700 | 122,697 | ||
| P | 2-20-09 | 2-24-09 16:20:38 | Hasbro Inc. | HAS | HARGREAVES DAVID D R | CFO | 10,000 | $23.00 | $230,000 |
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