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 Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), a filing with the SEC revealed that on Tuesday, Director Glenn A. Davenport purchased 1,000 shares of CBRL, for a cost of $67.50 each, for a total investment of $67,500. So far Davenport is in the green, up about 1.3% on their buy based on today's trading high of $68.41. Cracker Barrel Old Country Store, Inc. is trading off about 0.3% on the day Friday. This buy marks the first one filed by Davenport in the past year.
And at DST Systems Inc. (NYSE:DST), there was insider buying on Monday, by Lowell L. Bryan who bought 354 shares for a cost of $56.26 each, for a trade totaling $19,914. Before this latest buy, Bryan purchased DST on 3 other occasions during the past year, for a total cost of $59,845 at an average of $52.04 per share. DST Systems Inc. is trading up about 0.6% on the day Friday. Bryan was up about 2.7% on the purchase at the high point of today's trading session, with DST trading as high as $57.78 in trading on Friday.
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