Friday 11/21 Insider Buying Report: SEE, MGPI Friday, November 21, 4:10 PM 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.
At Sealed Air Corp. (SEE), a filing with the SEC revealed that on Wednesday, CEO Jerome A. Peribere purchased 13,096 shares of SEE, at a cost of $38.17 each, for a total investment of $499,906. Peribere was up about 3.0% on the purchase at the high point of today's trading session, with SEE trading as high as $39.30 at last check today. Sealed Air Corp. is trading up about 0.9% on the day Friday. This purchase marks the first one filed by Peribere in the past year.
And at MGP Ingredients (MGPI), there was insider buying on Monday, by Director John P. Bridendall who bought 20,000 shares at a cost of $12.48 each, for a total investment of $249,600. Before this latest buy, Bridendall purchased MGPI at 2 other times during the past year, for a total cost of $144,986 at an average of $5.79 per share. MGP Ingredients is trading up about 3% on the day Friday. So far Bridendall is in the green, up about 6.7% on their buy based on today's trading high of $13.32.
For MarketNewsVideo.com, I'm Sayoko Murase.
|