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 GEO Group, a filing with the SEC revealed that on Thursday, CEO George C. Zoley purchased 250,000 shares of GEO, for a cost of $11.31 each, for a total investment of $2.83M. So far Zoley is in the green, up about 5.0% on their buy based on today's trading high of $11.88. GEO Group is trading up about 1.4% on the day Monday. Before this latest buy, Zoley bought GEO on 3 other occasions during the past twelve months, for a total cost of $9.70M at an average of $15.78 per share.
And on Wednesday, CEO Ernest Scott Santi bought $998,046 worth of Illinois Tool Works, buying 6,300 shares at a cost of $158.42 a piece. Illinois Tool Works, is trading off about 0.7% on the day Monday. So far Santi is in the green, up about 1.5% on their buy based on today's trading high of $160.75.
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