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 two noteworthy recent insider buys.
At Abercrombie & Fitch ( ANF ), a filing with the SEC revealed that on Friday, Director Craig R. Stapleton bought 10,000 shares of ANF, at a cost of $37.30 each, for a total investment of $373,000. So far Stapleton is in the green, up about 2.4% on their purchase based on today's trading high of $38.20. Abercrombie & Fitch is trading up about 0.5% on the day Monday. Before this latest buy, Stapleton made one other buy in the past year, purchasing $440,150 shares at a cost of $44.01 each.
And at YuMe ( YUME ), there was insider buying on Thursday, by Director Daniel D. Springer who bought 32,500 shares at a cost of $5.27 each, for a total investment of $171,119. Before this latest buy, Springer purchased YUME on 2 other occasions during the past twelve months, for a total investment of $763,414 at an average of $6.50 per share. YuMe is trading off about 0.6% on the day Monday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
