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 Tuesday, GameStop’s Director, Lawrence Cheng, made a $1.03M buy of GME, purchasing 55,000 shares at a cost of $18.80 each. Cheng was up about 7.6% on the buy at the high point of today’s trading session, with GME trading as high as $20.23 at last check today. GameStop is trading up about 4.9% on the day Wednesday. Before this latest buy, Cheng made one other buy in the past twelve months, purchasing $114,368 shares for a cost of $22.87 a piece.
And on Friday, CEO Jeffrey K. Schomburger bought $1.00M worth of Tyson Foods, buying 19,450 shares at a cost of $51.50 each. Tyson Foods is trading off about 0.8% on the day Wednesday. Schomburger was up about 3.0% on the purchase at the high point of today’s trading session, with TSN trading as high as $53.05 in trading on Wednesday.
VIDEO: Wednesday 9/9 Insider Buying Report: GME, TSN
