Insider Buying Stays Steady as Q2 Kicks Off

We cover insider buying every week at 24/7 Wall St., and like we have seen through the first 90 days of 2015, there has been a steady march of insiders adding to the positions they have of company stock. While not as high in volume as last year, the buying is still consistent, and that is a good sign for the overall equity markets.

These companies reported notable insider buying this past week.

Eagle Bulk Shipping Inc. (NASDAQ: EGLE) had a 10% owner step in last week and purchase shares. Goldentree Asset Management bought a block of 500,000 shares at $8.50 apiece. The total for the buy came to $4.25 million. The shares closed trading on Friday at $8.19.

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Vince Holding Corp. (NYSE: VNCE) is on our report for the second week in a row, and it also had a 10% owner come in again to purchase shares. SK Financial Services bought 114,041 shares at prices that ranged from $18.42 to $18.96. That came to $2.1 million. The company designs, merchandises and sells various contemporary fashion brand products in the United States and internationally. Shares ended the week at $20.09, so a very well-timed purchase indeed.

Luby’s Inc. (NYSE: LUB) had a C suite executive buy stock this past week. The chief executive of the cafeteria giant bought a block of 185,000 shares of the stock at $5.07 per share. The total of the purchase came to $937,000. Luby’s shares were trading on Friday’s close at $5.34, so another buy well timed.

Famous Dave’s of America Inc. (NASDAQ: DAVE) was another company that had a 10% owner purchasing shares this past week. LionEye Capital Management bought 28,800 shares at a price of $27.53. The total for the trade came to $792,000. The company develops, owns, operates and franchises restaurants under the Famous Dave’s name. The shares closed trading on Friday at $28.78, so another good buy.

Ebix Inc. (NASDAQ: EBIX) is another on this week’s screen with a 10% owner adding to a position. The Rennes Foundation bought 14,200 shares of the stock at $29.87 apiece. The total for the buy came to $424,000. The company provides software and e-commerce solutions to the insurance industry. The stock ended trading on Friday at $29.23.

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These companies also reported insider buying this week: Alico Inc. (NASDAQ: ALCO), Five Below Inc. (NASDAQ: FIVE), Gordmans Stores Inc. (NASDAQ: GMAN), Karyopharm Therapeutics Inc. (NASDAQ: KPTI) and UniFirst Corp. (NYSE: UNF).

Slow but steady was the course for this week. As mentioned, things may slow down as the earnings season announcements start coming fast and furious next week.