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.
On Wednesday, Great Elm Group's , Matthew A. Drapkin, made a $443,548 buy of GEG, purchasing 223,384 shares at a cost of $1.99 a piece. Great Elm Group is trading trading flat on the day Friday. Before this latest buy, Drapkin purchased GEG on 6 other occasions during the past year, for a total investment of $862,611 at an average of $2.06 per share.
And also on Wednesday, Director Joe T. Ford bought $424,138 worth of Westrock Coffee, buying 52,005 shares at a cost of $8.16 each. Before this latest buy, Ford purchased WEST at 8 other times during the past year, for a total investment of $877,113 at an average of $10.96 per share. Westrock Coffee is trading up about 0.7% on the day Friday. Ford was up about 6.1% on the purchase at the high point of today's trading session, with WEST trading as high as $8.65 at last check today.
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