When to Ignore the Insiders
On Tuesday, Sealed Air (SEE) board member Kenneth Manning bought 5,000 shares of the company's stock at an average price of $17 per share. Sealed Air is a company with $3.3 billion in market capitalization that makes food and protective packaging products (such as bubble wrap). Before this latest share purchase, his last one -- according to our database of 13-F filings -- came in November of 2011 at an average price of $17.44.
Manning had bought other shares that year at even higher prices, so overall he doesn't seem to have a good track record here. On average, stocks bought by insiders tend to outperform the broader market, but this isn't always the case, so we at least like to look quickly at how a particular insider's trades have performed in the past. With his latest purchase, Manning owns just over 100,000 shares of Sealed Air's stock....428 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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