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 cash to make a purchase, is that they expect to make money. ¬†Today we look at a noteworthy recent insider buys.
On Tuesday, CEO Stacy Locke purchased $640,537 worth of Pioneer Energy Services Corp (NYSE:PES), purchasing 100,000 shares at a cost of $6.41 each. ¬†This purchase marks the first one filed by Locke in the past twelve months. ¬†Pioneer Energy Services Corp is trading down about 2.2% on the day Wednesday. ¬†So far Locke is in the green, up about 5.8% on their purchase based on today's trading high of $6.78.
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