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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on September 2, Dreams, Inc.'s Divisional President - Retail, Kevin Michael Bates, invested $9,975.00 into 4,750 shares of DRJ, for a cost per share of $2.10. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Tuesday, bargain hunters could buy shares of Dreams, Inc. (AMEX:DRJ) and achieve a cost basis 7.1% cheaper than Bates, with shares changing hands as low as $1.95 per share. Dreams, Inc. shares are currently trading off about 0.5% on the day. The chart below shows the one year performance of DRJ shares, versus its 200 day moving average:
Looking at the chart above, DRJ's low point in its 52 week range is $1.66 per share, with $3.18 as the 52 week high point — that compares with a last trade of $1.99. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
09/02/2011
Kevin Michael Bates
Divisional President-Retail
4,750
$2.10
$9,975.00
DRJ operates in the Specialty Retail sector, among companies like Gaiam Inc (NASDAQ:GAIA) which is down about 0.8% today, and PC Mall Inc. (NASDAQ:MALL) trading higher by about 1.1%. Below is a three month price history chart comparing the stock performance of DRJ, versus GAIA and MALL.
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