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 Jamba (JMBA), a filing with the SEC revealed that on Tuesday, Director Glenn W. Welling purchased 32,964 shares of JMBA, for a cost of $15.95 each, for a total investment of $525,826. Welling was up about 1.8% on the buy at the high point of today's trading session, with JMBA trading as high as $16.24 at last check today. Jamba is trading up about 0.1% on the day Wednesday. Before this latest buy, Welling purchased JMBA at 2 other times during the past twelve months, for a total investment of $2.33M at an average of $14.08 per share.
And at Twitter (TWTR), there was insider buying on Tuesday, by Chief Financial Officer Anthony Noto who bought 6,700 shares at a cost of $37.69 each, for a trade totaling $252,554. This buy marks the first one filed by Noto in the past twelve months. Twitter is trading down about 1.7% on the day Wednesday.
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