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 Thursday, EV Energy Partners (EVEP)'s Executive Chairman of the Board, John B. Walker, made a $4.81M buy of EVEP, purchasing 150,000 shares at a cost of $32.08 a piece. Walker was up about 7.9% on the buy at the high point of today's trading session, with EVEP trading as high as $34.62 in trading on Tuesday. Before this latest buy, Walker bought EVEP on 2 other occasions during the past year, for a total cost of $5.17M at an average of $36.75 per share.
And on Friday, CEO Thinh Q. Tran bought $2.50M worth of Sigma Designs (SIGM), buying 454,546 shares at a cost of $5.50 each. Sigma Designs is trading down about 0.2% on the day Tuesday. Bargain hunters can pick up SIGM at a price even lower than Tran did, with the stock trading as low as $4.48 in trading on Tuesday -- that's 18.5% below Tran's purchase price.
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