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.
On Thursday, WD-40 (NASDAQ:WDFC)'s Director, Daniel E. Pittard, made a $66,000 purchase of WDFC, buying 400 shares at a cost of $165.00 a piece. WD-40 is trading off about 0.3% on the day Monday. Before this latest buy, Pittard made one other purchase in the past year, buying $70,304 shares at a cost of $132.65 each.
And also on Thursday, CEO Joseph A. Jolson purchased $65,014 worth of JMP Group (JMP), purchasing 16,306 shares at a cost of $3.99 a piece. Before this latest buy, Jolson bought JMP on 23 other occasions during the past twelve months, for a total investment of $2.70M at an average of $4.59 per share. JMP Group is trading up about 1.2% on the day Monday.
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