Assessing a Spate of Insider Buying
Statistically, insider purchases tend to be bullish signals for a stock -- and that's why we at Insider Monkey track both insider buying and selling. So, without further ado, here are five stocks that insiders were buying in early October.
Best Buy (BBY) board member Matthew Paull bought 6,500 shares of the company on Oct. 2 at an average price of $16.89. The company has been under attack from Amazon (AMZN), with the latter taking advantage of its lower costs as it attempts to move into electronics retail. Sales at Best Buy fell last quarter, and earnings plunged as the company failed to preserve its margins. Founder Richard Schulze is attempting a buyout, and this will likely give investors a premium on any shares they are able to buy before the announcement. However, it is unclear whether Schulze can raise enough private capital -- including risk-averse debt -- in order for the transaction to proceed....497 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.