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 HPQ, a filing with the SEC revealed that on Friday, Robert R. Bennett bought 50,000 shares of HPQ, at a cost of $14.95 each, for a total investment of $747,720. So far Bennett is in the green, up about 10.1% on their purchase based on today's trading high of $16.46. HP Inc is trading up about 3.4% on the day Wednesday.
And at General Motors, there was insider buying on Friday, by Executive Vice President Julian G. Blissett who bought 9,300 shares at a cost of $26.00 each, for a trade totaling $241,800. This purchase marks the first one filed by Blissett in the past year. General Motors is trading up about 5.1% on the day Wednesday. Blissett was up about 10.9% on the purchase at the high point of today's trading session, with GM trading as high as $28.84 at last check today.
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