York Water was analyzed in this blog on December 22. This morning I bought the stock at 17.90 on a limit order. After writing the previous article, I learned that company insiders have been buying an astonishing amount of stock all year, including large purchases in December at 17.90. I assume that no one knows what this stock is worth quite as well as the directors of the company. The buying by company insiders has alleviated my concerns and I am following their lead. Insiders may sell stock for many reasons, but they only buy it when they think the share price is going to rise in the future.
January 1, 2007 at 10:43 am |
I wonder why you are astonished by the amount of insider purchasing when the 13 individuals involved have only bought a total of 16,246 shares in the past twelve months. They’ve invested less than $375,000 among the lot of them. True, the buying has been regular and steady, with no selling, but I personally would not call that an astonishing commitment of financial resources.
January 1, 2007 at 12:32 pm |
16,246 shares would not be impressive for a company like General Electric with 10B shares outstanding, but I think it is for a tiny company like York Water with 10M shares outstanding.