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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Chesapeake Energy, a filing with the SEC revealed that on Wednesday, Director R. Brad Martin bought 250,000 shares of CHK, for a cost of $0.85 each, for a total investment of $213,000. So far Martin is in the green, up about 14.5% on their purchase based on today's trading high of $0.98. Chesapeake Energy is trading up about 1.4% on the day Thursday. Before this latest buy, Martin purchased CHK at 2 other times during the past twelve months, for a total cost of $350,250 at an average of $2.59 per share.
And at Gaming & Leisure Properties, there was insider buying on Tuesday, by SVP, Investments Matthew Demchyk who purchased 5,000 shares for a cost of $41.40 each, for a trade totaling $207,000. Before this latest buy, Demchyk purchased GLPI on 3 other occasions during the past year, for a total investment of $370,340 at an average of $37.03 per share. Gaming & Leisure Properties, Inc is trading off about 1.5% on the day Thursday.
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