Top Buys by Directors: Gallagher's $420K Bet on GPC

The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $420K by Thomas Gallagher, Chief Executive Officer at Genuine Parts Co. ( GPC).

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Gallagher bets big on GPC:
Purchased Insider Title Shares Price/Share Value
08/13/2014 Thomas Gallagher Chief Executive Officer 5,000 $84.00 $420,000.00

Gallagher's average cost works out to $84.00/share. Shares of Genuine Parts Co. were changing hands at $85.58 at last check, trading up about 1.7% on Thursday. The chart below shows the one year performance of GPC shares, versus its 200 day moving average:

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