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 Electric, a filing with the SEC revealed that on Wednesday, CEO Jeffrey R. Immelt bought 50,000 shares of GE, for a cost of $29.24 each, for a total investment of $1.46M. Immelt was up about 3.6% on the purchase at the high point of today's trading session, with GE trading as high as $30.29 in trading on Thursday. General Electric is trading up about 1.9% on the day Thursday. Before this latest buy, Immelt purchased GE at 2 other times during the past year, for a total investment of $3.57M at an average of $30.38 per share.
And on Monday, Director William Arthur Owens purchased $999,534 worth of CenturyLink, purchasing 42,800 shares at a cost of $23.35 a piece. CenturyLink is trading up about 0.1% on the day Thursday. Owens was up about 5.5% on the purchase at the high point of today's trading session, with CTL trading as high as $24.64 in trading on Thursday.
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