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 Friday, GXO Logistics' Director, Todd C. Cooper, made a $303,540 buy of GXO, purchasing 6,000 shares at a cost of $50.59 a piece. GXO Logistics is trading up about 0.5% on the day Tuesday.
And on Monday, Managing Director John Allen Gray bought $298,762 worth of Silvercrest Asset Management Group, buying 21,785 shares at a cost of $13.71 each. Silvercrest Asset Management Group is trading up about 0.9% on the day Tuesday. So far Gray is in the green, up about 0.8% on their buy based on today's trading high of $13.82.
VIDEO: Tuesday 12/2 Insider Buying Report: GXO, SAMG
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