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 Thursday, GUESS CEO and Director, Carlos Alberini, made a $1.00M buy of GES, purchasing 83,000 shares at a cost of $12.05 a piece. Alberini was up about 15.5% on the buy at the high point of today's trading session, with GES trading as high as $13.92 at last check today. GUESS ?, is trading up about 8.9% on the day Tuesday. Before this latest buy, Alberini made one other buy in the past year, purchasing $1.02M shares at a cost of $10.17 a piece.
And also on Thursday, CEO Joseph A. Jolson purchased $478,000 worth of JMP Group, purchasing 200,000 shares at a cost of $2.39 a piece. Before this latest buy, Jolson bought JMP at 6 other times during the past twelve months, for a total investment of $398,728 at an average of $2.69 per share. JMP Group is trading up about 5.1% on the day Tuesday. So far Jolson is in the green, up about 9.6% on their purchase based on today's trading high of $2.62.
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