Friday 1/31 Insider Buying Report: SFD, BALL
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.
On Wednesday, Smithfield Foods's Director, Hank Shenghua He, made a $340,000 buy of SFD, purchasing 17,000 shares at a cost of $20.00 a piece. He was up about 10.2% on the buy at the high point of today's trading session, with SFD trading as high as $22.03 at last check today. Smithfield Foods is trading down about 2.2% on the day Friday.
And at Ball, there was insider buying on Tuesday, by SVP and President, Mandy Glew who bought 563 shares for a cost of $68.15 each, for a total investment of $38,367. This buy marks the first one filed by Glew in the past year. Ball is trading up about 0.1% on the day Friday. Investors are able to grab BALL even cheaper than Glew did, with the stock trading as low as $55.90 in trading on Friday which is 18.0% below Glew's purchase price.
VIDEO: Friday 1/31 Insider Buying Report: SFD, BALL