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 Monday, Prudential Short Duration High Yield Fund (NYSE:ISD)'s Director, Linda W. Bynoe, made a $323,325 buy of ISD, purchasing 22,500 shares at a cost of $14.37 a piece. So far Bynoe is down about 0.7% on the buy, with the stock changing hands as low as $14.27 at last check today. Prudential Short Duration High Yield Fund is trading trading flat on the day Thursday.
And at Del Frisco's Restaurant Group (DFRG), there was insider buying on Monday, by President/CEO Norman J. Abdallah who purchased 15,000 shares at a cost of $16.13 each, for a trade totaling $241,950. Before this latest buy, Abdallah made one other purchase in the past twelve months, buying $211,650 shares for a cost of $14.11 a piece. Del Frisco's Restaurant Group is trading down about 0.7% on the day Thursday. Investors are able to buy DFRG at a price even lower than Abdallah did, with the stock trading as low as $14.95 in trading on Thursday -- that's 7.3% under Abdallah's purchase price.
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