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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At General Motors (NYSE:GM), a filing with the SEC revealed that on Thursday, CEO Daniel F. Akerson bought 25,000 shares of GM, for a cost of $26.50 each, for a total investment of $662,500. So far Akerson is in the green, up about 2.5% on their buy based on today's trading high of $27.17. General Motors Co. is trading down about 1% on the day Monday. Before this latest buy, Akerson made one other buy in the past year, purchasing $508,750 shares at a cost of $20.35 a piece.
And at ADVENT/CLAYMORE Enhanced Growth (NYSE:LCM), there was insider buying on Thursday, by Doug Teresko who purchased 10,000 shares at a cost of $9.57 each, for a total investment of $95,700. Before this latest buy, Teresko bought LCM at 2 other times during the past year, for a total cost of $155,968 at an average of $9.75 per share. ADVENT/CLAYMORE Enhanced Growth is trading up about 0.2% on the day Monday. So far Teresko is in the green, up about 0.8% on their buy based on today's trading high of $9.65.
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