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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 4, Lorillard, Inc.'s Director, Kit D Dietz, invested $153,286.00 into 1,400 shares of LO, for a cost per share of $109.49. 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 Lorillard, Inc. (NYSE:LO) and achieve a cost basis 1.7% cheaper than Dietz, with shares changing hands as low as $107.64 per share. Lorillard, Inc. shares are currently trading off about 1.6% on the day. The chart below shows the one year performance of LO shares, versus its 200 day moving average:
Looking at the chart above, LO's low point in its 52 week range is $72.40 per share, with $120.00 as the 52 week high point — that compares with a last trade of $107.58. 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
08/08/2011
Andrew H Card Jr.
Director
500
$102.64
$51,321.00
11/04/2011
Kit D Dietz
Director
1,400
$109.49
$153,286.00
According to the ETF Finder at ETF Channel, LO makes up 4.17% of the Guggenheim Spin-Off ETF (AMEX:CSD) which is trading lower by about 1.6% on the day Monday.
LO operates in the Cigarettes & Tobacco sector, among companies like Altria Group Inc (NYSE:MO) which is down about 1.6% today, and British American Tobacco Plc (AMEX:BTI) trading lower by about 2.8%. Below is a three month price history chart comparing the stock performance of LO, versus MO and BTI.
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One Reason For Insiders to Buy
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