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 Tuesday, Gordmans Stores (GMAN)'s CMO, Lisa Evans, made a $188,140 buy of GMAN, purchasing 23,000 shares at a cost of $8.18 each. Investors can pick up GMAN even cheaper than Evans did, with the stock trading as low as $7.57 in trading on Thursday -- that's 7.5% under Evans's purchase price. Gordmans Stores is trading down about 1.4% on the day Thursday. Before this latest buy, Evans made one other buy in the past year, purchasing $49,686 shares for a cost of $6.37 a piece.
And also on Tuesday, Chief Operating Officer Stacey H. Dwyer bought $80,138 worth of United Development Funding IV (UDF), buying 4,485 shares at a cost of $17.87 each. Before this latest buy, Dwyer made one other buy in the past year, purchasing $22,180 shares for a cost of $18.48 a piece. United Development Funding IV is trading up about 1.5% on the day Thursday.
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