Friday 3/27 Insider Buying Report: GLF, IRET
The Online Investor - Fri., Mar. 27, 1:41 PM
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Thursday, GulfMark Offshore (GLF)'s Director, Sheldon S. Gordon, made a $268,520 purchase of GLF, buying 20,000 shares at a cost of $13.43 a piece. GulfMark Offshore is trading up about 3% on the day Friday. This purchase marks the first one filed by Gordon in the past twelve months.
And on Wednesday, Director Pamela J. Moret purchased $50,065 worth of Investors Real Estate Trust (IRET), purchasing 6,553 shares at a cost of $7.64 a piece. Investors Real Estate Trust is trading up about 1.1% on the day Friday. Bargain hunters have the opportunity to snag IRET at a price even lower than Moret did, with shares changing hands as low as $7.42 in trading on Friday -- that's 2.9% below Moret's purchase price.