Wednesday 9/6 Insider Buying Report: ET, INGR
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.
On Friday, Energy Transfer's Co-CEO, Marshall S. McCrea III, made a $682,000 purchase of ET, buying 50,000 shares at a cost of $13.64 each. McCrea III was up about 1.2% on the buy at the high point of today's trading session, with ET trading as high as $13.81 at last check today. Energy Transfer is trading down about 0.5% on the day Wednesday. This buy marks the first one filed by McCrea III in the past year.