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 ION Geophysical Corp (IO), a filing with the SEC revealed that on Friday, Director James M. Lapeyre Jr. purchased 60,000 shares of IO, at a cost of $6.79 each, for a total investment of $407,436. Lapeyre Jr. was up about 20.2% on the purchase at the high point of today's trading session, with IO trading as high as $8.16 at last check today. ION Geophysical Corp is trading up about 9.8% on the day Tuesday. Before this latest buy, Lapeyre Jr. purchased IO at 2 other times during the past year, for a total investment of $787,284 at an average of $13.12 per share.
And at Phillips 66 Partners LP (PSXP), there was insider buying on Thursday, by CFO Kevin J. Mitchell who purchased 7,349 shares at a cost of $48.50 each, for a total investment of $356,409. Before this latest buy, Mitchell made one other purchase in the past twelve months, buying $130,283 shares for a cost of $49.14 each. Phillips 66 Partners LP is trading down about 0.1% on the day Tuesday. Bargain hunters can pick up PSXP even cheaper than Mitchell did, with the stock trading as low as $47.95 in trading on Tuesday — that's 1.1% under Mitchell's purchase price.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 9.5%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 9.5%.