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 two noteworthy recent insider buys.
On Friday, Luby's (LUB)'s Director, Frank Markantonis, made a $118,237 buy of LUB, purchasing 19,608 shares at a cost of $6.03 a piece. Markantonis was up about 4.5% on the buy at the high point of today's trading session, with LUB trading as high as $6.30 at last check today. This purchase marks the first one filed by Markantonis in the past year.
And also on Friday, Director John William Poduska Sr. purchased $84,355 worth of Exa Corp. (EXA), purchasing 6,300 shares at a cost of $13.39 each. Before this latest buy, Poduska purchased EXA at 5 other times during the past year, for a total cost of $429,801 at an average of $12.79 per share. Exa Corp. is trading down about 0.3% on the day Wednesday.
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