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 cash to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Thursday, Tile Shop Holdings Inc ( TTS )'s Director, Peter H. Kamin, made a $975,618 buy of TTS, purchasing 114,972 shares at a cost of $8.49 each. Kamin was up about 6.7% on the buy at the high point of today's trading session, with TTS trading as high as $9.05 in trading on Monday. Tile Shop Holdings Inc is trading up about 5% on the day Monday. Before this latest buy, Kamin purchased TTS at 4 other times during the past year, for a total investment of $6.2M at an average of $11.44 per share.