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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Williams-Sonoma, Inc. (NYSE:WSM), a filing with the SEC revealed that on Thursday, Director Adrian T. Dillon bought 7,555 shares of WSM, at a cost of $33.14 each, for a total investment of $250,353. Dillon was up about 9.2% on the purchase at the high point of today's trading session, with WSM trading as high as $36.19 in trading on Tuesday. Williams-Sonoma, Inc. is trading up about 1.6% on the day Tuesday. Before this latest buy, Dillon made one other buy in the past year, purchasing $111,173 shares at a cost of $30.88 each.
And at Genesco Inc. (NYSE:GCO), there was insider buying on Monday, by Director Thurgood Marshall Jr. who purchased 3,600 shares at a cost of $58.75 each, for a total investment of $211,499. This buy marks the first one filed by Marshall Jr. in the past year. Genesco Inc. is trading up about 1.4% on the day Tuesday. So far Marshall Jr. is in the green, up about 2.8% on their buy based on today's trading high of $60.40.
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