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Snatch This Bargain Stock Even Cheaper Than Director Drapkin Did

By Market News Video Staff, Friday, November 18, 3:47 PM ET
Play Video: One Reason For Insiders to Buy


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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 May 23, Hot Topic Inc.'s Director, Matthew A Drapkin, invested $691,418.00 into 96,000 shares of HOTT, 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 Friday, bargain hunters could buy shares of Hot Topic Inc. (HOTT) and achieve a cost basis 7.8% cheaper than Drapkin, with shares changing hands as low as $6.64 per share. It should be noted that Drapkin has collected $0.14/share in dividends since the time of their purchase, so they are currently down 5.9% on their purchase from a total return basis. Hot Topic Inc. shares are currently trading up about 3.3% on the day. The chart below shows the one year performance of HOTT shares, versus its 200 day moving average:

Hot Topic Inc. Chart

Looking at the chart above, HOTT's low point in its 52 week range is $5.05 per share, with $8.74 as the 52 week high point that compares with a last trade of $6.90. 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
05/23/2011 Matthew A Drapkin Director 96,000 $7.20 $691,418.00
05/23/2011 Steven R Becker Director 96,000 $7.20 $691,418.00

HOTT operates in the Apparel Stores sector, among companies like Men's Wearhouse, Inc. (NYSE:MW) which is off about 0.4% today, and Vera Bradley Inc. (NASDAQ:VRA) trading lower by about 3.9%. Below is a three month price history chart comparing the stock performance of HOTT, versus MW and VRA.

HOTT,MW,VRA Relative Performance Chart


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This Article's Word Cloud:   Call   Definition   Director   Drapkin   HOTT   Importance   Insider   Matthew   Price   Share   Topic   Trial   about   asset   basis   below   buying   cash   changing   chart   cost   currently   designed   earned   expect   hunters   insider   last   like   many   only   performance   point   portfolio   program   purchase   reason   share   shares   stock   that   their   there   they   this   trading   versus   week   which   with
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