Friday 10/31 Insider Buying Report: GIMO, CRS
Metals Channel - 17 hours, 11 minutes ago
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 Gigamon (GIMO), a filing with the SEC revealed that on Thursday, Director Michael C. Ruettgers bought 20,000 shares of GIMO, for a cost of $14.02 each, for a total investment of $280,414. So far Ruettgers is in the green, up about 7.0% on their purchase based on today's trading high of $15.00. Gigamon is trading up about 5.4% on the day Friday.
And on Tuesday, Director Stephen M. Ward Jr. bought $202,060 worth of Carpenter Technology (CRS), buying 4,100 shares at a cost of $49.28 a piece. This buy marks the first one filed by Ward Jr. in the past year. Carpenter Technology is trading up about 3.2% on the day Friday.