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 Fresh Market, Inc. (TFM), a filing with the SEC revealed that on Monday, Steven B. Tanger purchased 1,000 shares of TFM, at a cost of $41.75 each, for a total investment of $41,750. Investors have the opportunity to buy TFM even cheaper than Tanger did, with the stock changing hands as low as $39.78 in trading on Thursday which is 4.7% below Tanger's purchase price. Fresh Market, Inc. is trading up about 1.2% on the day Thursday.
And at Digirad Corp (NASDAQ:DRAD), there was insider buying on Wednesday, by Director Charles M. Gillman who purchased 15,000 shares for a cost of $2.49 each, for a trade totaling $37,350. Before this latest buy, Gillman bought DRAD on 44 other occasions during the past twelve months, for a total investment of $918,141 at an average of $2.10 per share. Digirad Corp is trading up about 0.8% on the day Thursday.
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