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Wednesday 8/20 Insider Buying Report: GNC, RT

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 GNC Holdings ( GNC ), a filing with the SEC revealed that on Monday, Director Michael F. Hines purchased 30,000 shares of GNC, at a cost of $35.41 each, for a total investment of $1.06M. Hines was up about 8.0% on the buy at the high point of today's trading session, with GNC trading as high as $38.23 in trading on Wednesday. GNC Holdings is trading up about 1.2% on the day Wednesday. This buy marks the first one filed by Hines in the past twelve months.

And at Ruby Tuesday ( RT ), there was insider buying on Friday, by President & Chief Executive Officer James J. Buettgen who purchased 50,000 shares for a cost of $6.08 each, for a trade totaling $304,159. Before this latest buy, Buettgen purchased RT at 2 other times during the past year, for a total cost of $869,800 at an average of $5.80 per share. Ruby Tuesday is trading off about 1.7% on the day Wednesday. So far Buettgen is in the green, up about 5.5% on their purchase based on today's trading high of $6.42.

VIDEO: Wednesday 8/20 Insider Buying Report: GNC, RT

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.

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