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.
On Friday, rue21, inc. (RUE)'s Director, Macon F. Brock Jr., made a $25,780 purchase of RUE, buying 1,000 shares at a cost of $25.78 a piece. rue21, inc. is trading trading flat on the day Monday. Before this latest buy, Brock Jr. bought RUE on 2 other occasions during the past year, for a total investment of $45,344 at an average of $25.19 per share.
And on Thursday, Director Frank J. Kurtenbach purchased $10,294 worth of Daktronics Inc. (NASDAQ:DAKT), purchasing 1,441 shares at a cost of $7.14 a piece. Daktronics Inc. is trading down about 0.4% on the day Monday. Kurtenbach was up about 1.9% on the purchase at the high point of today's trading session, with DAKT trading as high as $7.28 in trading on Monday.
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