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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Williams Cos Inc (NYSE:WMB), a filing with the SEC revealed that on Thursday, Director John A. Hagg bought 10,000 shares of WMB, at a cost of $30.27 each, for a total investment of $302,656. Williams Cos Inc is trading up about 3.2% on the day Friday.
And at GP Strategies Corp. (NYSE:GPX), there was insider buying on Thursday, by Director Dan Friedberg who bought 18,200 shares for a cost of $15.04 each, for a trade totaling $273,658. Before this latest buy, Friedberg purchased GPX on 28 other occasions during the past twelve months, for a total cost of $6.29M at an average of $12.61 per share. GP Strategies Corp. is trading up about 2.7% on the day Friday.
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