By Insider Monkey

Insider trading is most profitable when several insiders buy around the same time. Academic studies have shown that insider purchases beat index funds by more than 7 % per year  when there are several insiders purchasing. Insider Monkey, your source for free insider trading data, compiled the list of stocks where at least two insiders made recent purchases. Here are the stocks with substantial insider purchases:

General Motors (GM): As GM’s stock price fell below its IPO price, several insiders stepped in and purchased modest amounts of shares. Daniel F. Akerson, CEO, purchased 5,000 shares at $31.81. Hedge funds snatched 6% of GM’s outstanding shares and amassed a $3.4 Billion position during the last three months of 2010. There were 112 hedge funds with GM positions at the end of December. John Griffin’s Blue Rigde, William Ackman’s Pershing Square, George Soros, David Tepper’s Appaloosa, Roberto Mignone’s Bridger Management,  Richard Perry’s Perry Capital, and Leon Cooperman’s Omega Advisors are among the several high profile hedge funds with GM positions.

Chesapeake Energy (CHK): Several Chesapeake Energy insiders made substantial purchases last week. Burns V Hargis, Richard K Davidson, and Aubrey K. McClendon spent more than $1 million and purchased more than 36,000 shares.

Amtech Systems (ASYS): During the past two weeks, four different insiders purchased Amtech shares. They all paid aboove Friday’s closing price of $21.46. 

Town Sports Intl (CLUB): This was one of our favorite stocks with insider trading about four months ago. We specifically wrote a separate article covering this stock and told our readers that we added it to our hypothetical portfolio. The stock gained around 63% since we wrote that article. There were more insider purchases last week.

Genomic Health Inc (GHDX): Large shareholders of Genomic  Health Inc have been buying while other insiders have been selling recently.

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