Monday 3/10 Insider Buying Report: PBF, TUMI


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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

On Wednesday, PBF Energy ( PBF )'s Executive Chairman, Thomas D. O'Malley, made a $252,988 buy of PBF, purchasing 10,000 shares at a cost of $25.30 each. O'Malley was up about 7.9% on the purchase at the high point of today's trading session, with PBF trading as high as $27.30 in trading on Monday. PBF Energy is trading up about 0.9% on the day Monday. Before this latest buy, O'Malley bought PBF on 2 other occasions during the past year, for a total investment of $3.43M at an average of $25.83 per share.

And at Tumi Holdings ( TUMI ), there was insider buying on Wednesday, by Director Joseph R. Gromek who purchased 10,000 shares at a cost of $22.69 each, for a total investment of $226,923. This purchase marks the first one filed by Gromek in the past year. Tumi Holdings is trading up about 2% on the day Monday. So far Gromek is in the green, up about 6.6% on their purchase based on today's trading high of $24.19.

Monday 3/10 Insider Buying Report: PBF, TUMI VIDEO: Monday 3/10 Insider Buying Report: PBF, TUMI

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Investing Ideas

Referenced Stocks: PBF , TUMI

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