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.
At Dorchester Minerals, a filing with the SEC revealed that on Thursday, Chief Operating Officer Bradley J. Ehrman purchased 4,000 shares of DMLP, for a cost of $11.13 each, for a total investment of $44,520. So far Ehrman is in the green, up about 7.8% on their purchase based on today's trading high of $12.00. Dorchester Minerals is trading up about 2.7% on the day Tuesday. Before this latest buy, Ehrman bought DMLP at 2 other times during the past year, for a total investment of $55,922 at an average of $13.28 per share.
And at Stone Harbor Emerging Markets Total Income Fund, there was insider buying on Thursday, by Executive Vice President James E. Craige who purchased 5,555 shares for a cost of $7.53 each, for a total investment of $41,829. Before this latest buy, Craige purchased EDI on 5 other occasions during the past twelve months, for a total investment of $980,449 at an average of $5.36 per share. Stone Harbor Emerging Markets Total Income Fund is trading up about 0.1% on the day Tuesday. Craige was up about 3.1% on the purchase at the high point of today's trading session, with EDI trading as high as $7.76 at last check today.
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