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 Green Plains, a filing with the SEC revealed that on Friday, Director Wayne Hoovestol bought 102,653 shares of GPRE, for a cost of $16.37 each, for a total investment of $1.68M. Hoovestol was up about 4.8% on the buy at the high point of today's trading session, with GPRE trading as high as $17.15 at last check today. Green Plains is trading up about 0.3% on the day Wednesday. This buy marks the first one filed by Hoovestol in the past year.
And on Monday, Director Francisco Dsouza bought $986,700 worth of General Electric, buying 55,000 shares at a cost of $17.94 a piece. This purchase marks the first one filed by Dsouza in the past twelve months. General Electric is trading up about 1.5% on the day Wednesday.
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