Friday 7/29 Insider Buying Report: FMSA, GE Friday, July 29, 10:31 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.
At Fairmount Santrol Holdings (FMSA), a filing with the SEC revealed that on Tuesday, Director Charles D. Fowler purchased 1,666,666 shares of FMSA, for a cost of $5.95 each, for a total investment of $9.92M. Fowler was up about 13.1% on the purchase at the high point of today's trading session, with FMSA trading as high as $6.73 in trading on Friday. Fairmount Santrol Holdings is trading down about 0.5% on the day Friday. This purchase marks the first one filed by Fowler in the past year.
And at General Electric (GE), there was insider buying on Tuesday, by CEO Jeffrey R. Immelt who purchased 50,000 shares at a cost of $31.45 each, for a total investment of $1.57M. Before this latest buy, Immelt made one other buy in the past year, purchasing $2.00M shares at a cost of $29.59 a piece. General Electric is trading down about 0.3% on the day Friday. Investors can snag GE at a price even lower than Immelt did, with shares trading as low as $31.11 at last check today which is 1.1% below Immelt's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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