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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 27, Beazer Homes USA's Chief Accounting Officer, Robert L. Salomon, invested $10,270.00 into 2,600 shares of BZH, for a cost per share of $3.95. Two days prior, the CEO bought 40,000 shares, and the CFO bought 2,500 shares. The total the three purchases was a little over $166K. Bargain hunters tend to pay particular attention to insider buys like these, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Tuesday, bargain hunters could buy shares of Beazer Homes USA, Inc. (NYSE:BZH) and achieve a cost basis 51.1% cheaper than when Salomon bought, with shares changing hands as low as $1.93 per share. Beazer Homes USA, Inc. shares are currently trading off about 2% on the day. The chart below shows the one year performance of BZH shares, versus its 200 day moving average:
Looking at the chart above, BZH's low point in its 52 week range is $1.35 per share, with $6.23 as the 52 week high point — that compares with a last trade of $1.95. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
05/25/2011
Ian J. McCarthy
President and CEO
40,000
$3.67
$146,935.25
05/25/2011
Allan P. Merrill
EVP, Chief Financial Officer
2,500
$3.60
$9,000.00
05/27/2011
Robert L. Salomon
SVP, Chief Accounting Officer
2,600
$3.95
$10,270.00
BZH operates in the General Contractors & Builders sector, among companies like Fortune Brands Home & Security, Inc. (NYSE:FBHS) which is up about 0.2% today, and Lennar Corp. (NYSE:LEN) trading lower by about 0.9%. Below is a three month price history chart comparing the stock performance of BZH, versus FBHS and LEN.
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