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 Friday, Chesapeake Energy ( CHK )'s Director, Archie W. Dunham, made a $13.98M purchase of CHK, buying 1,000,000 shares at a cost of $13.98 each. So far Dunham is in the green, up about 4.2% on their buy based on today's trading high of $14.57. Chesapeake Energy Corp. is trading up about 2.2% on the day Wednesday. Before this latest buy, Dunham made one other purchase in the past twelve months, buying $11.66M shares at a cost of $23.32 a piece.
And on Monday, Director Theodore B. Smith III purchased $275,250 worth of GTT Communications ( GTT ), purchasing 15,000 shares at a cost of $18.35 a piece. This purchase marks the first one filed by Smith III in the past twelve months. GTT Communications is trading up about 0.5% on the day Wednesday. Smith III was up about 4.4% on the buy at the high point of today's trading session, with GTT trading as high as $19.16 in trading on Wednesday.
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.
