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.
On Tuesday, Oceaneering International, Inc. (NYSE:OII)'s Director, D. Michael Hughes, made a $312,683 buy of OII, purchasing 5,139 shares at a cost of $60.85 each. Hughes was up about 6.5% on the purchase at the high point of today's trading session, with OII trading as high as $64.79 at last check today. Oceaneering International, Inc. is trading up about 0.6% on the day Thursday.
And on Monday, Director Steven R. Anderson purchased $303,810 worth of Sunoco Logistics Partners L.P. (NYSE:SXL), purchasing 5,000 shares at a cost of $60.76 each. Sunoco Logistics Partners L.P. is trading up about 0.6% on the day Thursday. So far Anderson is in the green, up about 4.0% on their buy based on today's trading high of $63.17.
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