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 Wednesday, BroadSoft Inc (NASDAQ:BSFT)'s Director, John D. Markley Jr., made a $229,805 purchase of BSFT, buying 10,000 shares at a cost of $22.98 each. Markley Jr. was up about 11.6% on the purchase at the high point of today's trading session, with BSFT trading as high as $25.65 at last check today. BroadSoft Inc is trading up about 3.1% on the day Friday. This buy marks the first one filed by Markley Jr. in the past year.
And at Cowen Group Class A (NASDAQ:COWN), there was insider buying on Thursday, by Director Jerome S. Markowitz who bought 69,047 shares at a cost of $2.60 each, for a trade totaling $179,300. Cowen Group Class A is trading up about 4.2% on the day Friday. So far Markowitz is in the green, up about 9.0% on their buy based on today's trading high of $2.83.
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