Bargain hunters are wise to pay close attention to insider buying, because while there are many different reasons for an insider to sell a stock, the only reason they would likely use their hard-earned money to making a purchase is that he expects to make money. Today we take a look at two notable recent insider buys.
At Darden Restaurants, an SEC filing revealed that on Monday, director Juliana L. Chugg bought 1,925 shares of DRI, at a cost of $129.01 each, for a total investment of $248,354. So far, Chugg is in the green, up about 3.8% on its long based on today’s trading high of $133.91. Darden Restaurants is trading down around 1.7% on Wednesday.
And at Main Street Capital, there was insider buying on Friday, with John Earl Jackson buying 1,800 shares at a cost of $42.22 each, for a trade totaling $75,996. This purchase is the first made by Jackson in the last twelve months. Main Street Capital is trading down about 0.1% on Wednesday. So far, Jackson is in the green, up about 1.1% on its long based on today’s trading high of $42.67.
VIDEO: Wednesday 03/30 Insider Buying Report: DRI, MAIN
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