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 Energy Recovery (
), a filing with the SEC revealed that on Tuesday, Director
Dominique Trempont bought 39,566 shares of ERII, at a cost of $4.74
each, for a total investment of $187,402. Trempont was up about
11.9% on the purchase at the high point of today's trading session,
with ERII trading as high as $5.30 at last check today. Energy
Recovery is trading up about 0.2% on the day Thursday. Before this
latest buy, Trempont made one other buy in the past twelve months,
purchasing $299,899 shares at a cost of $4.64 a piece.
And also on Tuesday, Director Mario J. Gabelli purchased $119,350
worth of GDL Fund (
), purchasing 11,000 shares at a cost of $10.85 each. Before this
latest buy, Gabelli bought GDL on 7 other occasions during the past
year, for a total investment of $331,960 at an average of $10.97
per share. GDL Fund is trading trading flat on the day Thursday.
VIDEO: Thursday 5/29 Insider Buying Report: ERII,