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 one noteworthy recent insider buy.
At Global Payments (NYSE:GPN), a filing with the SEC revealed that on Friday, Director Gerald J. Wilkins bought 2,500 shares of GPN, for a cost of $56.75 each, for a total investment of $141,871. So far Wilkins is in the green, up about 1.3% on their purchase based on today's trading high of $57.51. Before this latest buy, Wilkins bought GPN at 2 other times during the past twelve months, for a total cost of $239,317 at an average of $47.86 per share.
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