Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Basic Energy Services Inc (NYSE:BAS), a filing with the SEC revealed that on Thursday, Director Thomas Moore Jr. purchased 10,000 shares of BAS, for a cost of $16.40 each, for a total investment of $163,969. So far the director is in the green, up about 17.6% on their buy based on today's trading high of $19.29. Basic Energy Services Inc is trading up about 10.9% on the day Tuesday. In the past twelve months, 1 other insider purchased BAS, purchasing $1.99M shares for a cost of $19.93 each.
And also on Thursday, CEO Mark A. Smith bought $139,750 worth of Molycorp Inc. (NYSE:MCP), buying 5,000 shares at a cost of $27.95 a piece. Before this latest buy, Smith made one other purchase in the past twelve months, buying $247,884 shares at a cost of $59.02 a piece. Molycorp Inc. is trading up about 6.2% on the day Tuesday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
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. Read Full Disclaimer.