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A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $393.1K invested across 4 purchases by Jeffery A. Smisek, CEO at United Continental Holdings Inc (NYSE:UAL).
Smisek bets big on UAL:
Purchased
Insider
Title
Shares
Price/Share
Value
08/09/2011
Jeffery A. Smisek
President and CEO
10,000
$17.36
$173,600.00
08/24/2011
Jeffery A. Smisek
President and CEO
5,000
$17.24
$86,199.50
08/26/2011
Jeffery A. Smisek
President and CEO
4,000
$17.05
$68,183.20
11/22/2011
Jeffery A. Smisek
President and CEO
4,000
$16.27
$65,071.20
Smisek's average cost works out to $17.09/share. Shares of United Continental Holdings Inc were changing hands at $21.79 at last check, trading up about 0.7% on Friday. The chart below shows the one year performance of UAL shares, versus its 200 day moving average:
Looking at the chart above, UAL's low point in its 52 week range is $15.51 per share, with $27.72 as the 52 week high point — that compares with a last trade of $21.79.
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