As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Friday, Janus Capital Group (NYSE:JNS)'s Director, Jeffrey J. Diermeier, made a $300,056 buy of JNS, purchasing 26,000 shares at a cost of $11.54 a piece. Bargain hunters can pick up JNS even cheaper than Diermeier did, with the stock changing hands as low as $11.10 at last check today -- that's 3.8% below Diermeier's purchase price.
And also on Friday, CEO James J. Buettgen purchased $281,400 worth of Ruby Tuesday (NYSE:RT), purchasing 50,000 shares at a cost of $5.63 each. Before this latest buy, Buettgen made one other purchase in the past twelve months, buying $588,400 shares at a cost of $5.88 each. Ruby Tuesday is trading off about 0.9% on the day Wednesday.
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