Tuesday 8/21 Insider Buying Report: PURE, GFN Tuesday, August 21, 10:55 AM ET
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Pure Bioscience (PURE), a filing with the SEC revealed that on Thursday, Director Tom Y. Lee bought 2,336,187 shares of PURE, for a cost of $0.45 each, for a total investment of $1.05M. Lee was up about 28.9% on the purchase at the high point of today's trading session, with PURE trading as high as $0.58 in trading on Tuesday. Pure Bioscience is trading down about 8.4% on the day Tuesday. This purchase marks the first one filed by Lee in the past year.
And on Friday, Ronald L. Havner Jr. bought $528,580 worth of General Finance Corp (GFN), buying 38,500 shares at a cost of $13.73 each. Before this latest buy, Havner Jr. purchased GFN on 37 other occasions during the past twelve months, for a total cost of $13.47M at an average of $11.58 per share. General Finance Corp is trading up about 1.3% on the day Tuesday. So far Havner Jr. is in the green, up about 2.3% on their purchase based on today's trading high of $14.05.
For MarketNewsVideo.com, I'm Sayoko Murase.
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