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 Douglas Emmett, a filing with the SEC revealed that on Monday, Chief Exec Officer, President Jordan L. Kaplan purchased 39,300 shares of DEI, for a cost of $25.38 each, for a total investment of $997,382. So far Kaplan is in the green, up about 1.8% on their buy based on today's trading high of $25.84. Douglas Emmett is trading up about 3.1% on the day Wednesday. This buy marks the first one filed by Kaplan in the past twelve months.
And on Tuesday, Director Kenneth Hallock bought $429,996 worth of Greenwich Lifesciences, buying 74,782 shares at a cost of $5.75 each. Greenwich Lifesciences is trading up about 2% on the day Wednesday. Investors have the opportunity to buy GLSI at a price even lower than Hallock did, with shares changing hands as low as $4.60 at last check today which is 20.0% under Hallock's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.