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 Tuesday, Darden Restaurants (NYSE:DRI)'s Chief Executive Officer, Eugene I. Lee Jr., made a $503,805 buy of DRI, purchasing 7,600 shares at a cost of $66.29 a piece. Lee Jr. was up about 3.0% on the buy at the high point of today's trading session, with DRI trading as high as $68.28 in trading on Friday. Darden Restaurants is trading up about 1.6% on the day Friday. This buy marks the first one filed by Lee Jr. in the past twelve months.
And on Thursday, Director Jacqueline M. Simkin bought $108,900 worth of Ladenburg Thalmann Financial Services (LTS), buying 30,000 shares at a cost of $3.63 each. Before this latest buy, Simkin bought LTS on 5 other occasions during the past twelve months, for a total investment of $159,398 at an average of $3.52 per share. Ladenburg Thalmann Financial Services is trading up about 0.1% on the day Friday.
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