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.
On Tuesday, General Electric's CEO and Director, John Leonard Flannery, made a $2.66M purchase of GE, buying 103,983 shares at a cost of $25.56 a piece. General Electric is trading down about 0.7% on the day Thursday.
And at NuStar Energy, there was insider buying on Tuesday, by Director William E. Greehey who purchased 50,000 shares at a cost of $41.86 each, for a trade totaling $2.09M. Before this latest buy, Greehey bought NS on 5 other occasions during the past year, for a total investment of $18.08M at an average of $46.90 per share. NuStar Energy is trading up about 1.1% on the day Thursday.
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