As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Thursday, Hercules Offshore (NASDAQ:HERO)'s Director, Steven A. Webster, made a $168,700 purchase of HERO, buying 50,000 shares at a cost of $3.37 a piece. Hercules Offshore is trading up about 2% on the day Friday. This purchase marks the first one filed by Webster in the past twelve months.
And at General American Investors (NYSE:GAM), there was insider buying on Thursday, by President Jeffrey W. Priest who purchased 2,500 shares for a cost of $26.60 each, for a total investment of $66,500. Before this latest buy, Priest purchased GAM on 6 other occasions during the past twelve months, for a total cost of $247,468 at an average of $26.93 per share. GAM is trading up about 0.6% on the day Friday.
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