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| Snatch This Bargain Dividend Stock With 8.9% Yield Even Cheaper Than Director Aven DidBy Dividend Channel Staff, Thursday, November 17, 4:27 PM ET
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 June 13, CTC Media Inc's Director, Peter Aven, invested $2,990,942.76 into 150,600 shares of CTCM, for a cost per share of $19.86. 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 Thursday, bargain hunters could buy shares of CTC Media Inc (NASDAQ:CTCM) and achieve a cost basis 51.7% cheaper than Aven, with shares changing hands as low as $9.59 per share. It should be noted that Aven has collected $0.22/share in dividends since the time of their purchase, so they are currently down 50.6% on their purchase from a total return basis. CTC Media Inc shares are currently trading down about 0.8% on the day. The chart below shows the one year performance of CTCM shares, versus its 200 day moving average:
The current annualized dividend paid by CTC Media Inc is $0.88/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 11/29/2011. Below is a long-term dividend history chart for CTCM, which can be of good help in judging whether the most recent dividend with approx. 8.9% annualized yield is likely to continue.
Looking at the chart above, CTCM's low point in its 52 week range is $8.04 per share, with $25.17 as the 52 week high point — that compares with a last trade of $9.77. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
According to the ETF Finder at ETF Channel, CTCM makes up 3.66% of the Russia Small-Cap ETF (AMEX:RSXJ) which is trading lower by about 3.3% on the day Thursday. See what other ETFs contain CTCM » CTCM operates in the Television & Radio sector, among companies like Spanish Broadcasting System, Inc. (NASDAQ:SBSA) which is off about 4.8% today, and New Frontier Media, Inc. (NASDAQ:NOOF) trading lower by about 2.6%. Below is a three month price history chart comparing the stock performance of CTCM, versus SBSA and NOOF.
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One Reason For Insiders to Buy
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