Notable Monday Option Activity: PEP, SAVE, MGI Monday, April 24, 3:23 PM ET, by Market News Video Staff Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume ...
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 3, MoneyGram International Inc's Director, Francisco Lorca, invested $50,269.26 into 5,037 shares of MGI, for a cost per share of $9.98. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Tuesday, bargain hunters could buy shares of MoneyGram International Inc (MGI) and achieve a cost basis 3.5% cheaper than Lorca, with shares changing hands as low as $9.63 per share. MoneyGram International Inc shares are currently trading down about 0.4% on the day. The chart below shows the one year performance of MGI shares, versus its 200 day moving average:
Looking at the chart above, MGI's low point in its 52 week range is $2.61 per share, with $12.36 as the 52 week high point — that compares with a last trade of $9.71. By comparison, below is a table showing the prices at which MGI insider buying was recorded over the last six months:
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