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.
On Tuesday, Great Lakes Dredge & Dock's Director, Ryan Levenson, made a $552,414 purchase of GLDD, buying 126,200 shares at a cost of $4.38 each. Levenson was up about 7.4% on the buy at the high point of today's trading session, with GLDD trading as high as $4.70 at last check today. Great Lakes Dredge & Dock is trading up about 2.8% on the day Thursday.
And at Interface, there was insider buying on Tuesday, by COO Jay Gould who purchased 26,300 shares for a cost of $19.04 each, for a total investment of $500,620. Before this latest buy, Gould made one other purchase in the past twelve months, buying $147,600 shares at a cost of $14.76 a piece. Interface is trading up about 1.6% on the day Thursday.
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