CSX pops after CEO Harrison discloses purchase of 300K shares

|About: CSX Corporation (CSX)|By:, SA News Editor

CSX gained 1.6% in today's trade, most of it in the final hour after CEO and President Hunter Harrison disclosed the purchase of 300K shares at $50.20/share, totaling more than $15M.

"The purchase sets $50 as an important price for Harrison; he's now invested $15.1M in cash just above that price and he has 9M options - half of which are performance-based - struck just below that price that he was granted as an inducement for joining CSX," says Ben Silverman, director of research at insider trading research firm InsiderScore.

CSX has surged more than 40% YTD, and last week revised its full-year guidance, saying investors can expect 25% EPS growth over 2016 's $1.81.