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 dollars to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Tuesday, Director Scott S. Cowen bought $100,170 worth of Barnes & Noble (NYSE:BKS), buying 4,500 shares at a cost of $22.26 a piece. This buy marks the first one filed by Cowen in the past twelve months. Barnes & Noble is trading up about 1.9% on the day Thursday. Cowen was up about 4.5% on the buy at the high point of today's trading session, with BKS trading as high as $23.27 at last check today.
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