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Tuesday 11/14 Insider Buying Report: GEL, FOSL
Tuesday, November 14, 10:33 AM ET

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.

At Genesis Energy L.P. (NYSE:GEL), a filing with the SEC revealed that on Friday, Chief Executive Officer Grant E. Sims bought 44,263 shares of GEL, for a cost of $22.93 each, for a total investment of $1.01M. Investors can bag GEL at a price even lower than Sims did, with the stock changing hands as low as $21.84 in trading on Tuesday -- that's 4.8% under Sims's purchase price. Genesis Energy L.P. is trading off about 1.4% on the day Tuesday. This buy marks the first one filed by Sims in the past year.

And also on Friday, Executive Vice President Gregory A. McKelvey purchased $684,200 worth of Fossil Group (NASDAQ:FOSL), purchasing 110,000 shares at a cost of $6.22 each. Before this latest buy, McKelvey bought FOSL at 3 other times during the past twelve months, for a total cost of $378,977 at an average of $8.52 per share. Fossil Group is trading up about 2.5% on the day Tuesday. So far McKelvey is in the green, up about 13.9% on their buy based on today's trading high of $7.08.

For MarketNewsVideo.com, I'm Sayoko Murase.

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Tuesday 11/14 Insider Buying Report: GEL, FOSL | Market News Video | Copyright © 2008 - 2017, All Rights Reserved

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