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 31, Gran Tierra Energy Inc's Director, Gerald Joseph Macey, invested $141,748.15 into 20,000 shares of GTE, for a cost per share of $7.09. 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 Tuesday, bargain hunters could buy shares of Gran Tierra Energy Inc (AMEX:GTE) and achieve a cost basis 19.5% cheaper than Macey, with shares changing hands as low as $5.70 per share. Gran Tierra Energy Inc shares are currently trading down about 1.6% on the day. The chart below shows the one year performance of GTE shares, versus its 200 day moving average:
Looking at the chart above, GTE's low point in its 52 week range is $4.20 per share, with $9.64 as the 52 week high point — that compares with a last trade of $5.73. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
Gerald Joseph Macey
According to the ETF Finder at ETF Channel, GTE makes up 4.88% of the Colombia ETF (AMEX:COLX) which is trading lower by about 2.6% on the day Tuesday.
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors —
anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset
allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors,
commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow
the performance trail wherever it leads us.
This Article's Word Cloud:AMEXBargainCOLXChannelDirectorEnergyGeraldGranInvestmentJosephMaceyTierraTuesdayValueaboutaboveallowsassetbelowbuyingcashchartclassescostdesignedhuntersinsiderlastonlyopenotherperformancepointportfolioreasonsharesharesshortshowingstockstocksthattheirtherethistradingweekwhatwhichwith
Nothing in Energy Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel
from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you
agree to the following Full Disclaimer & Terms of Service. Video widget and energy stock videos powered by Market News Video. Quote data delayed at least 20
minutes; data powered by Ticker Technologies, and Mergent. Contact Energy Stock Channel; Meet Our Editorial Staff.