As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Ascena Retail Group Inc (NASDAQ:ASNA), a filing with the SEC revealed that on Thursday, Director Randy L. Pearce bought 8,200 shares of ASNA, at a cost of $18.59 each, for a total investment of $152,453. So far Pearce is in the green, up about 4.2% on their buy based on today's trading high of $19.37. Ascena Retail Group Inc is trading off about 1% on the day Monday. This buy marks the first one filed by Pearce in the past year.
And at Builders FirstSource Inc. (NASDAQ:BLDR), there was insider buying on Wednesday, by Director Michael Graff who purchased 41,300 shares for a cost of $3.54 each, for a trade totaling $146,058. Before this latest buy, Graff bought BLDR on 9 other occasions during the past year, for a total investment of $1.32M at an average of $3.55 per share. Builders FirstSource Inc. is trading up about 1.5% on the day Monday. So far Graff is in the green, up about 18.5% on their purchase based on today's trading high of $4.19.
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