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Homebuilder PulteGroup, Inc. (NYSE:PHM) has had multiple insiders buy shares; these consensus insider purchases are often considered particularly bullish signals. After a sharp rise in 2012, markets have been less optimistic about homebuilders so far this year and perhaps these insiders believe the company is now being underrated by market prices. PulteGroup is valued at 22 times trailing earnings, but adjusted pretax income has nearly doubled from its levels a year ago off of 20% revenue growth. Wall Street analysts expect earnings growth to continue, with a forward P/E of 12 and a five-year PEG ratio of 0.4. Of course strong future performance is dependent on the housing market continuing to do well.

A Board member directly purchased 10,000 shares of Select Comfort Corp. (NASDAQ:SCSS), the mattress company which provides Sleep Number beds, in late July. Following the acquisition of Sealy by Tempur-Pedic to form Tempur Sealy International Inc (NYSE:TPX), some analysts believe that this consolidation in the mattress industry will result in more pricing power. Revenue at Select Comfort has been flat according to recent reports, and with marketing expenses among others up this has resulted in lower earnings. The sell-side expects the company to recover, and so the forward P/E is 14. Renaissance Technologies, founded by billionaire Jim Simons, had a small position in Select Comfort at the beginning of April (find Renaissance’s favorite stocks).

Disclosure: I own no shares of any stocks mentioned in this article.