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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, ANN INC (NYSE:ANN)'s Director, Daniel W. Yih, made a $199,908 buy of ANN, purchasing 5,400 shares at a cost of $37.02 each. Bargain hunters can bag ANN even cheaper than Yih did, with the stock trading as low as $36.52 in trading on Tuesday which is 1.4% below Yih's purchase price. ANN INC is trading up about 0.5% on the day Tuesday.
And also on Friday, CFO and Accounting Officer Jon C. Biro bought $181,367 worth of Consolidated Graphics, Inc. (NYSE:CGX), buying 7,000 shares at a cost of $25.91 each. This buy marks the first one filed by Biro in the past year. Consolidated Graphics, Inc. is trading up about 2.1% on the day Tuesday.
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