Wednesday 9/17 Insider Buying Report: PSEC, IO Wednesday, September 17, 11:49 AM ET
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 Tuesday, Prospect Capital (PSEC)'s CEO, John F. Barry, made a $1.02M buy of PSEC, purchasing 100,000 shares at a cost of $10.17 a piece. So far Barry is in the green, up about 1.0% on their buy based on today's trading high of $10.27. Prospect Capital is trading up about 0.9% on the day Wednesday. Before this latest buy, Barry bought PSEC on 4 other occasions during the past year, for a total cost of $4.19M at an average of $10.47 per share.
And at ION Geophysical (IO), there was insider buying on Monday, by Director James M. Lapeyre Jr. who bought 100,000 shares for a cost of $3.17 each, for a trade totaling $317,442. Before this latest buy, Lapeyre purchased IO at 2 other times during the past twelve months, for a total cost of $633,660 at an average of $3.62 per share. ION Geophysical is trading off about 2.2% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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