Why Are Insiders Buying Bed Bath & Beyond Stock?

Bed Bath & Beyond Inc . (NASDAQ: BBBY ) shares surged Thursday morning after several filings with the U.S. Securities and Exchange Commission (SEC) showed recent insider buying. What Happened: The largest and most noteworthy insider buying comes from the newly appointed interim CEO Sue Gove , who took the helm last week from Mark Tritton . Gove's recent purchase represents nearly a quarter of a million bet on the home furnishings retailer. Here's a breakdown: Gove disclosed the purchase of 50,000 shares at an average price of $4.61 per share. Board member Harriet Edelman  disclosed the purchase of 10,000 shares at an average price of $4.94 per share. Jeff Kirwan , also a board member, purchased 10,000 shares at an average price of $4.90 per share. Gove is likely trying to instill confidence in the company's investor base following its disastrous quarter , which led to Tritton's resignation. See ... Full story available on Benzinga.com