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.
On Wednesday, Great Elm Group's, Matthew A. Drapkin, made a $221,458 purchase of GEG, buying 111,334 shares at a cost of $1.99 each. So far Drapkin is in the green, up about 4.9% on their purchase based on today's trading high of $2.09. Great Elm Group is trading trading flat on the day Thursday. Before this latest buy, Drapkin purchased GEG on 10 other occasions during the past twelve months, for a total cost of $1.17M at an average of $2.27 per share.
And on Tuesday, Director Steven A. Webster purchased $191,675 worth of Oceaneering International, purchasing 25,000 shares at a cost of $7.67 each. Before this latest buy, Webster made one other purchase in the past year, buying $218,052 shares at a cost of $8.72 a piece. Oceaneering International is trading up about 0.4% on the day Thursday. So far Webster is in the green, up about 4.3% on their buy based on today's trading high of $8.00.
For MarketNewsVideo.com, I'm Sayoko Murase.