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.
At General Electric (NYSE:GE), a filing with the SEC revealed that on Thursday, CEO H. Lawrence Culp Jr. purchased 225,000 shares of GE, for a cost of $9.73 each, for a total investment of $2.19M. Bargain hunters have the opportunity to snag GE even cheaper than Culp Jr. did, with the stock trading as low as $9.28 in trading on Monday — that's 4.6% under Culp Jr.'s purchase price. General Electric is trading up about 0.1% on the day Monday. Before this latest buy, Culp Jr. made one other purchase in the past year, buying $2.49M shares at a cost of $13.04 each.
And also on Thursday, Director John Yearwood purchased $1.01M worth of Nabors Industries (NYSE:NBR), purchasing 197,000 shares at a cost of $5.14 a piece. This purchase marks the first one filed by Yearwood in the past year. Nabors Industries is trading up about 3.1% on the day Monday. Yearwood was up about 9.3% on the purchase at the high point of today's trading session, with NBR trading as high as $5.62 in trading on Monday.
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