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 HD Supply Holdings, a filing with the SEC revealed that on Friday, Lauren Taylor Wolfe bought 267,584 shares of HDS, for a cost of $26.23 each, for a total investment of $7.02M. Wolfe was up about 19.9% on the buy at the high point of today's trading session, with HDS trading as high as $31.44 in trading on Tuesday. HD Supply Holdings Inc is trading up about 6.3% on the day Tuesday. Before this latest buy, Wolfe purchased HDS on 2 other occasions during the past twelve months, for a total investment of $31.75M at an average of $34.73 per share.
And at Resources Connection, there was insider buying on Friday, by CEO Kate W. Duchene who bought 10,000 shares for a cost of $10.04 each, for a total investment of $100,400. This purchase marks the first one filed by Duchene in the past twelve months. Resources Connection is trading up about 9.3% on the day Tuesday. Duchene was up about 10.4% on the purchase at the high point of today's trading session, with RGP trading as high as $11.08 at last check today.
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