Green Mountain (GMCR) Gets a Caffine Shot After Rare Insider Buying
Tweet
Share
E-mail
Get Alerts GMCR Hot Sheet
Join SI Premium – FREE
Some Green Mountain Coffee (Nasdaq: GMCR) executives are putting their money where their coffee is...
Two Form 4 filings hit the Street just before 2PM, and this time they weren't to report insider sales. It was two buys, albeit small.
Director Michael Mardy bought 1,000 shares on 11/14 at $43.36 and Director David Moran bought 1,180 shares on 11/14 at $42.17. At a combined value of less than $100,000, this is probably less than David Einhorn spends on Starbucks each year.
Nonetheless, the insider buys were notable because of their rarity. The last time an insider bought shares of Green Mountain was 3 years ago. Going back to November 2008, one of the last insider buys on record was again from Mr. Mardy. At that time he bought 1,000 shares at less than $30 per share. Those shares were worth 20% more one-month later and now are worth 73% more. It should also be noted that Mr. Mardy was a seller of 20,000 shares at $97.48 in August of this year - right before things went south.
Shares of Green Mountain are up 10 percent Wednesday.
Two Form 4 filings hit the Street just before 2PM, and this time they weren't to report insider sales. It was two buys, albeit small.
Director Michael Mardy bought 1,000 shares on 11/14 at $43.36 and Director David Moran bought 1,180 shares on 11/14 at $42.17. At a combined value of less than $100,000, this is probably less than David Einhorn spends on Starbucks each year.
Nonetheless, the insider buys were notable because of their rarity. The last time an insider bought shares of Green Mountain was 3 years ago. Going back to November 2008, one of the last insider buys on record was again from Mr. Mardy. At that time he bought 1,000 shares at less than $30 per share. Those shares were worth 20% more one-month later and now are worth 73% more. It should also be noted that Mr. Mardy was a seller of 20,000 shares at $97.48 in August of this year - right before things went south.
Shares of Green Mountain are up 10 percent Wednesday.
Create E-mail Alert Related Categories
Insider Trades, Insiders' BlogRelated Entities
Greenlight Capital, David EinhornSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
