As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Friday, Great Elm Capital Group's Director, Matthew A. Drapkin, made a $3.81M purchase of GEC, buying 1,136,792 shares at a cost of $3.35 a piece. Great Elm Capital Group is trading trading flat on the day Tuesday. This purchase marks the first one filed by Drapkin in the past twelve months.
And at General Electric, there was insider buying on Monday, by CEO Jeffrey R. Immelt who purchased 100,000 shares at a cost of $28.07 each, for a trade totaling $2.81M. Before this latest buy, Immelt bought GE on 3 other occasions during the past year, for a total cost of $5.03M at an average of $30.04 per share. General Electric is trading off about 0.1% on the day Tuesday. Immelt was up about 0.7% on the buy at the high point of today's trading session, with GE trading as high as $28.28 at last check today.
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