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.
At Abercrombie & Fitch (NYSE:ANF), a filing with the SEC revealed that on Friday, Director Craig R. Stapleton bought 10,000 shares of ANF, at a cost of $37.30 each, for a total investment of $373,000. So far Stapleton is in the green, up about 2.4% on their purchase based on today's trading high of $38.20. Abercrombie & Fitch is trading up about 0.5% on the day Monday. Before this latest buy, Stapleton made one other buy in the past year, purchasing $440,150 shares at a cost of $44.01 each.
And at YuMe (NYSE:YUME), there was insider buying on Thursday, by Director Daniel D. Springer who bought 32,500 shares at a cost of $5.27 each, for a total investment of $171,119. Before this latest buy, Springer purchased YUME on 2 other occasions during the past twelve months, for a total investment of $763,414 at an average of $6.50 per share. YuMe is trading off about 0.6% on the day Monday.
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