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 Thursday, Abercrombie & Fitch (NYSE:ANF)'s Director, Arthur C. Martinez, made a $393,500 buy of ANF, purchasing 10,000 shares at a cost of $39.35 a piece. Abercrombie & Fitch is trading off about 0.4% on the day Monday. This buy marks the first one filed by Martinez in the past twelve months.
And also on Thursday, Director Nigel Travis bought $197,888 worth of Office Depot (NASDAQ:ODP), buying 40,000 shares at a cost of $4.95 each. Before this latest buy, Travis made one other buy in the past twelve months, purchasing $200,696 shares for a cost of $5.64 each. Office Depot is trading down about 1.2% on the day Monday. Bargain hunters have the opportunity to snag ODP even cheaper than Travis did, with the stock changing hands as low as $4.82 in trading on Monday -- that's 2.6% below Travis's purchase price.
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