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.
On Monday, General Electric (NYSE:GE)'s CEO, Jeffrey R. Immelt, made a $2.64M purchase of GE, buying 104,900 shares at a cost of $25.19 a piece. Immelt was up about 2.0% on the purchase at the high point of today's trading session, with GE trading as high as $25.69 at last check today. General Electric Co is trading up about 2.1% on the day Tuesday. Before this latest buy, Immelt made one other purchase in the past year, buying $1.00M shares for a cost of $25.04 a piece.
And at WhiteWave Foods (NYSE:WWAV), there was insider buying on Friday, by Director Michelle P. Goolsby who purchased 10,000 shares for a cost of $28.83 each, for a trade totaling $288,300. This buy marks the first one filed by Goolsby in the past year. WhiteWave Foods is trading up about 3.8% on the day Tuesday. Goolsby was up about 4.1% on the purchase at the high point of today's trading session, with WWAV trading as high as $30.02 at last check today.
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