Stoneridge Inc. is Now Oversold (SRI) Friday, October 19, 4:26 PM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
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 September 16, Stoneridge Inc.'s Director, Paul J. Schlather, invested $32,400.00 into 4,500 shares of SRI, for a cost per share of $7.20. Bargain hunters tend to pay particular attention to insider buys like this one, 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 Monday, bargain hunters could buy shares of Stoneridge Inc. (NYSE:SRI) and achieve a cost basis 8.2% cheaper than Schlather, with shares changing hands as low as $6.61 per share. Stoneridge Inc. shares are currently trading up about 10.9% on the day. The chart below shows the one year performance of SRI shares, versus its 200 day moving average:
Looking at the chart above, SRI's low point in its 52 week range is $4.53 per share, with $17.22 as the 52 week high point — that compares with a last trade of $6.93. 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
09/14/2011
Paul J. Schlather
Director
5,000
$6.44
$32,200.00
09/15/2011
Paul J. Schlather
Director
5,000
$6.80
$34,000.00
09/16/2011
Paul J. Schlather
Director
4,500
$7.20
$32,400.00
SRI operates in the Auto Parts sector, among companies like Honeywell International, Inc. (NYSE:HON) which is up about 4.5% today, and Johnson Controls Inc (NYSE:JCI) trading higher by about 4.5%. Below is a three month price history chart comparing the stock performance of SRI, versus HON and JCI.
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