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, Kirkland's (KIRK)'s Director, Charles Pleas III, made a $239,000 purchase of KIRK, buying 100,000 shares at a cost of $2.39 each. Kirkland's is trading down about 5.2% on the day Friday. This buy marks the first one filed by Pleas III in the past twelve months.
And on Tuesday, CEO Craig H. Stevenson Jr. purchased $236,485 worth of Diamond S Shipping (DSSI), purchasing 20,231 shares at a cost of $11.69 each. Before this latest buy, Stevenson Jr. made one other buy in the past twelve months, purchasing $490,972 shares for a cost of $12.52 a piece. Diamond S Shipping is trading off about 1.6% on the day Friday. Bargain hunters have the opportunity to snag DSSI even cheaper than Stevenson Jr. did, with shares changing hands as low as $11.02 at last check today which is 5.7% under Stevenson Jr.'s purchase price.
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