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 two noteworthy recent insider buys.
On Friday, American Midstream Partners LP (NYSE:AMID)'s Director, Donald R. Kendall Jr., made a $220,350 purchase of AMID, buying 10,000 shares at a cost of $22.04 a piece. American Midstream Partners LP is trading off about 1% on the day Wednesday. This buy marks the first one filed by Kendall Jr. in the past twelve months.
And also on Friday, Vice President Ryan Blair purchased $183,000 worth of Blyth (NYSE:BTH), purchasing 20,000 shares at a cost of $9.15 a piece. Before this latest buy, Blair made one other buy in the past twelve months, purchasing $168,250 shares for a cost of $13.85 each. Blyth is trading up about 2.7% on the day Wednesday.
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