Monday 10/24 Insider Buying Report: GPC, BIOC
The Online Investor - 7 hours, 13 minutes ago
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 Genuine Parts (GPC), a filing with the SEC revealed that on Thursday, Chairman Thomas Gallagher purchased 3,000 shares of GPC, for a cost of $89.24 each, for a total investment of $267,720. So far Gallagher is in the green, up about 2.9% on their buy based on today's trading high of $91.86. Genuine Parts is trading up about 0.2% on the day Monday. Before this latest buy, Gallagher made one other buy in the past twelve months, purchasing $260,580 shares for a cost of $86.86 a piece.
And on Wednesday, Director Edward A. Neff bought $249,999 worth of Biocept (BIOC), buying 227,272 shares at a cost of $1.10 each. Before this latest buy, Neff made one other buy in the past twelve months, purchasing $100,000 shares at a cost of $1.00 each. Biocept is trading up about 6.9% on the day Monday. Investors are able to pick up BIOC at a price even lower than Neff did, with the stock changing hands as low as $0.91 in trading on Monday which is 17.3% under Neff's purchase price.