Actionable news
All posts from Actionable news
Actionable news in CHK: CHESAPEAKE ENERGY Corp,

Despite Huge Market Rally, Insider Buying Soars: SolarCity, Anadarko, Scientific Games, Chesapeake and More

On a week when the market had some of its best upside trading in months, conventional wisdom would seem to dictate that insider buying would be slow. That was hardly the case as the overall volume jumped to the highest level in weeks. With a resurgence in the IPO market and the Federal Reserve finally looking like it will raise interest rates, the market stabilized some after a rocky two months, and insiders took advantage.

We cover insider buying every week at 24/7 Wall St., and we like to remind readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains a positive indicator.

Here are some of the companies that reported notable insider buying this past week.

SolarCity Corp. (NASDAQ: SCTY) had a famous investor and inventor buying stock last week. Tesla founder and CEO Elon Musk bought 198,615 shares at prices that ranged from $25.33 to $27.92. The total for the buy came to a sizable $5.3 million. SolarCity designs...