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 GameStop, a filing with the SEC revealed that on Monday, President, CEO and Chairman Ryan Cohen bought 1,150,680 shares of GME, for a cost of $22.94 each, for a total investment of $26.39M. Cohen was up about 5.1% on the buy at the high point of today's trading session, with GME trading as high as $24.10 in trading on Thursday. GameStop is trading off about 1.7% on the day Thursday.
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