As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Monday, Magnum Hunter Resources (MHR)'s Director, Joe L. McClaugherty, made a $39,535 buy of MHR, purchasing 5,000 shares at a cost of $7.91 a piece. Magnum Hunter Resources is trading trading flat on the day Tuesday. Before this latest buy, McClaugherty purchased MHR on 3 other occasions during the past year, for a total cost of $368,245 at an average of $6.39 per share.
And at Dorchester Minerals (NASDAQ:DMLP), there was insider buying on Thursday, by Chief Financial Officer H. C. Allen Jr. who purchased 500 shares at a cost of $30.20 each, for a total investment of $15,100. Before this latest buy, Allen Jr. purchased DMLP on 2 other occasions during the past year, for a total investment of $91,951 at an average of $25.75 per share. Dorchester Minerals is trading up about 0.1% on the day Tuesday. Allen Jr. was up about 1.0% on the buy at the high point of today's trading session, with DMLP trading as high as $30.49 at last check today.
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