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 Monday, General Finance Corp (NASDAQ:GFN)'s, Family Trust Havner, made a $408,615 buy of GFN, purchasing 32,637 shares at a cost of $12.52 each. So far Havner is in the green, up about 7.0% on their buy based on today's trading high of $13.40. General Finance Corp is trading up about 2.7% on the day Thursday. Before this latest buy, Havner purchased GFN at 15 other times during the past twelve months, for a total cost of $11.69M at an average of $11.24 per share.
And on Wednesday, Director John A. Rolls bought $199,120 worth of FuelCell Energy (NASDAQ:FCEL), buying 152,000 shares at a cost of $1.31 each. This buy marks the first one filed by Rolls in the past twelve months. FuelCell Energy is trading up about 0.8% on the day Thursday.
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