Insider insider buying can be a pretty encouraging sign for any potential investor. However, this reporting season has shortened the buying time for many investors, and some insiders have bought shares since the reports have already been published.
According to the general opinion, insiders only buy shares of one company for one reason - they believe that the share price will go up, and they want to profit from it. So these types of actions can inspire many investors to follow them, especially in times of uncertainty.
Here are the insider actions of the past week.
A director at JPMorgan purchased 16,000 shares at a price of $ 124.64 through a trust fund. The transaction totaled more than $ 1.99 million. Keep in mind that earlier this month some of the directors sold their shares.
JPMorgan was one of the first banks in the order of the season to report on the strong start of the season. The last close was at $ 126.03.
CEO David Ricks of Eli Lilly and one of the directors have bought more than 6,400 shares together in the last week. The shares were bought in a range between $ 107.45 and $ 108.38 per share, with the whole transaction being $ 700,000.
Eli Lilly published better-than-expected reports and raised its growth prospects. The company closed at $ 110.20.
Thor Industries CEO Robert Martin bought 10,000 shares in a range of $ 58.67 and $ 58.86, which cost him more than $ 588,000. So he increased his total holdings to 222,000.
Thor released better reports late last month and soon increased their dividend. Their last shares were trading at $ 67.10.
Internal purchases continue with Assured Guaranty, with some activity on Opko Health and WesBanco being detected.
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