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 two noteworthy recent insider buys.
At American Eagle Outfitters (NYSE:AEO), a filing with the SEC revealed that on Monday, Exec Chairman & Interim CEO Jay L. Schottenstein bought 500,000 shares of AEO, at a cost of $15.74 each, for a total investment of $7.87M. Schottenstein was up about 4.6% on the buy at the high point of today's trading session, with AEO trading as high as $16.47 in trading on Thursday. American Eagle Outfitters is trading up about 3.7% on the day Thursday. This purchase marks the first one filed by Schottenstein in the past year.
And at CSS Industries (CSS), there was insider buying on Tuesday, by Director Rebecca C. Matthias who purchased 10,000 shares for a cost of $27.43 each, for a trade totaling $274,337. Before this latest buy, Matthias made one other buy in the past year, purchasing $279,370 shares for a cost of $27.94 a piece. CSS Industries is trading up about 2.2% on the day Thursday.
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