Friday 10/9 Insider Buying Report: IMMR, PHK
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.
At Immersion, a filing with the SEC revealed that on Wednesday, CEO Eric Singer purchased 41,000 shares of IMMR, at a cost of $7.14 each, for a total investment of $292,800. Singer was up about 6.5% on the purchase at the high point of today's trading session, with IMMR trading as high as $7.61 in trading on Friday. Immersion is trading up about 4.9% on the day Friday.
And at PIMCO High Income Fund, there was insider buying on Tuesday, by David C. Flattum who bought 60,204 shares at a cost of $4.14 each, for a trade totaling $249,245. This purchase marks the first one filed by Flattum in the past year. PIMCO High Income Fund is trading up about 0.1% on the day Friday. So far Flattum is in the green, up about 1.4% on their purchase based on today's trading high of $4.20.
VIDEO: Friday 10/9 Insider Buying Report: IMMR, PHK 