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Friday 5/16 Insider Buying Report: GOGO, MGLN

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 Gogo ( GOGO ), a filing with the SEC revealed that on Thursday, Director Charles C. Townsend purchased 100,000 shares of GOGO, for a cost of $12.89 each, for a total investment of $1.29M. Gogo is trading up about 3.1% on the day Friday.

And on Wednesday, Director Robert M. Leblanc bought $556,000 worth of Magellan Health Services ( MGLN ), buying 10,000 shares at a cost of $55.60 each. Magellan Health Services is trading up about 0.6% on the day Friday. Leblanc was up about 2.6% on the buy at the high point of today's trading session, with MGLN trading as high as $57.04 at last check today.

VIDEO: Friday 5/16 Insider Buying Report: GOGO, MGLN

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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