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 one noteworthy recent insider buy.
At Bloomin' Brands, there was insider buying on Wednesday, by CEO Mike Spanos who bought 118,000 shares at a cost of $8.63 each, for a trade totaling $1.02M. This buy marks the first one filed by Spanos in the past twelve months. Bloomin' Brands is trading up about 6.2% on the day Monday. So far Spanos is in the green, up about 8.2% on their buy based on today's trading high of $9.34.
VIDEO: Monday 3/10 Insider Buying Report: BLMN
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