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 Eastman Kodak, a filing with the SEC revealed that on Monday, Executive Chairman James V. Continenza bought 400,000 shares of KODK, for a cost of $2.50 each, for a total investment of $1M. Continenza was up about 40.8% on the purchase at the high point of today's trading session, with KODK trading as high as $3.52 at last check today. Eastman Kodak is trading off about 5.4% on the day Friday. Before this latest buy, Continenza made one other purchase in the past year, buying $130,494 shares for a cost of $2.45 each.
And also on Monday, Director Sean Stiefel bought $99,500 worth of GrowGeneration, buying 25,000 shares at a cost of $3.98 a piece. This purchase marks the first one filed by Stiefel in the past year. GrowGeneration is trading down about 1.8% on the day Friday. So far Stiefel is in the green, up about 7.3% on their purchase based on today's trading high of $4.27.
For MarketNewsVideo.com, I'm Sayoko Murase.