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.
At Jmp Group Incorporated (NYSE:JMP), a filing with the SEC revealed that on Tuesday, Jonathan M. Orszag bought 20,000 shares of JMP, for a cost of $6.34 each, for a total investment of $126,716. So far Orszag is in the green, up about 4.5% on their purchase based on today's trading high of $6.62. Jmp Group Incorporated is trading down about 0.6% on the day Thursday.
And at Artisan Partners Asset Managemen (NYSE:APAM), there was insider buying on Tuesday, by Director Jeffrey A. Joerres who bought 3,500 shares at a cost of $30.00 each, for a total investment of $105,000. Artisan Partners Asset Managemen is trading up about 0.9% on the day Thursday. Joerres was up about 26.8% on the buy at the high point of today's trading session, with APAM trading as high as $38.04 in trading on Thursday.
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