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 one noteworthy recent insider buy.
At Ruby Tuesday (RT), a filing with the SEC revealed that on Monday, Director Donald E. Hess purchased 50,000 shares of RT, for a cost of $6.85 each, for a total investment of $342,450. Hess was up about 5.9% on the buy at the high point of today's trading session, with RT trading as high as $7.25 at last check today. Ruby Tuesday is trading up about 1.1% on the day Thursday.
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