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.
At Jefferies Group, a filing with the SEC revealed that on Monday, Thomas W. Jones bought 40,000 shares of JEF, at a cost of $31.21 each, for a total investment of $1.25M. Jones was up about 2.0% on the buy at the high point of today's trading session, with JEF trading as high as $31.82 at last check today. Jefferies Group is trading up about 1.8% on the day Wednesday. Before this latest buy, Jones made one other purchase in the past year, buying $334,800 shares at a cost of $33.48 a piece.
And at Conagra Brands, there was insider buying on Monday, by Director Emanuel Chirico who purchased 30,000 shares for a cost of $34.06 each, for a total investment of $1.02M. Conagra Brands is trading down about 2.1% on the day Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
