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.
On Thursday, Digital Generation Inc (NASDAQ:DGIT)'s Executive Chairman, Scott K. Ginsburg, made a $2.06M buy of DGIT, purchasing 270,620 shares at a cost of $7.61 each. Ginsburg was up about 7.7% on the buy at the high point of today's trading session, with DGIT trading as high as $8.20 in trading on Monday. Digital Generation Inc is trading up about 4.4% on the day Monday.
And also on Thursday, Director Herbert Simon bought $698,372 worth of Cheesecake Factory Inc. (NASDAQ:CAKE), buying 20,000 shares at a cost of $34.92 a piece. Before this latest buy, Simon bought CAKE on 3 other occasions during the past twelve months, for a total cost of $2.33M at an average of $31.09 per share. Cheesecake Factory Inc. is trading up about 1.3% on the day Monday.
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