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 one noteworthy recent insider buy.
At Globalstar, a filing with the SEC revealed that on Friday, Director James F. Lynch bought 500,000 shares of GSAT, for a cost of $1.93 each, for a total investment of $963,700. Investors are able to bag GSAT at a price even lower than Lynch did, with shares changing hands as low as $1.84 at last check today -- that's 4.5% under Lynch's purchase price. Globalstar is trading down about 1.1% on the day Wednesday. Before this latest buy, Lynch purchased GSAT at 2 other times during the past twelve months, for a total cost of $2.13M at an average of $1.70 per share.
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