Sell:: CFO Martin H Eden sold 75,000 shares of GTE stock on 11/30/2009 at the average price of 5.7, the price of the stock has increased by 3.51% since.
Sell:: Director John Scott Ward Price sold 3,572,969 shares of GTE stock on 03/04/2010 at the average price of 5.88, the price of the stock has increased by 0.34% since.
Sell:: Director John Scott Ward Price sold 200,000 shares of GTE stock on 11/17/2009 at the average price of 5.7, the price of the stock has increased by 3.51% since.
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Why CEOs Are Buying Stocks Of Their Own Companies?
As legendary investor Peter Lynch said: "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
TOP EXECUTIVES like CEOs and CFOs are savvy buyers of their companies' shares. One long-term study showed that they beat the market on average by six percentage points a year.
Another study found that the aggregated activities of insiders can serve as a good indicator to locate market bottoms. Insiders as a whole are smart investors of their own companies.