A $94 Million Bet on BlackRock
Insiders might sell their own company's stock for many reasons. However, they make open-market buys for only one reason: They expect the shares to go up.
So do know that BlackRock (BLK) Director James Grosfeld has completed a series of insider purchases that totaled about 496,000 shares at a cost of around $94 million. The trades took place from Oct. 19 through Nov. 1, and the average price per share was about $189. Barrons reports that Mr. Grosfeld now owns 700,538 shares worth $131 million....287 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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