Wednesday 4/22 Insider Buying Report: IMBI

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 one noteworthy recent insider buy.

At iMedia Brands, a filing with the SEC revealed that on Friday, Director Eyal Lalo bought 691,070 shares of IMBI, at a cost of $2.04 each, for a total investment of $1.41M.

Investors are able to snag IMBI even cheaper than Lalo did, with the stock trading as low as $1.57 in trading on Wednesday which is 23.3% under Lalo's purchase price.

IMedia Brands is trading up about 13.6% on the day Wednesday.