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Top Buys by Top Brass: CEO Furman's $7M Bet on GBX
By Market News Video Staff, Monday, August 16, 10:15 AM ET
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $7M invested across 3 purchases by William A. Furman, CEO at Greenbrier Companies Inc (NYSE:GBX).
Furman bets big on GBX:
Purchased
Insider
Title
Shares
Price/Share
Value
04/19/2021
William A. Furman
Chairman & CEO
50,000
$43.85
$2,192,305.00
04/29/2021
William A. Furman
Chairman & CEO
10,000
$48.20
$481,968.00
07/15/2021
William A. Furman
Chairman & CEO
100,000
$43.08
$4,307,659.10
Furman's average cost works out to $43.64/share. Shares of Greenbrier Companies Inc were changing hands at $44.22 at last check, trading down about 2.4% on Monday. The chart below shows the one year performance of GBX shares, versus its 200 day moving average:
Looking at the chart above, GBX's low point in its 52 week range is $26.01 per share, with $50.21 as the 52 week high point — that compares with a last trade of $44.22.
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