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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 November 18, LoJack Corp.'s Chairman, Richard T. Riley, invested $97,410.00 into 38,000 shares of LOJN, for a cost per share of $2.56. 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 LoJack Corp. (NASDAQ:LOJN) and achieve a cost basis 4.4% cheaper than Riley, with shares changing hands as low as $2.45 per share. LoJack Corp. shares are currently trading up about 2.5% on the day. The chart below shows the one year performance of LOJN shares, versus its 200 day moving average:
Looking at the chart above, LOJN's low point in its 52 week range is $2.37 per share, with $7.36 as the 52 week high point — that compares with a last trade of $2.48. 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
11/18/2011
Richard T. Riley
Chairman
38,000
$2.56
$97,410.00
LOJN operates in the Electronic Equipment & Products sector, among companies like Nidec Corp (NYSE:NJ) which is up about 3.9% today, and Motorola Mobility Holdings Inc. (MMI) trading up by about 0.4%. Below is a three month price history chart comparing the stock performance of LOJN, versus NJ and MMI.
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