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 (NYSE: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.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.