Notable Two Hundred Day Moving Average Cross - DMLP Wednesday, May 24, 4:56 PM ET, by Market News Video Staff In trading on Wednesday, shares of Dorchester Minerals LP (DMLP) crossed below their 200 day ...
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 June 14, Dorchester Minerals LP's Chief Financial Officer, Leslie A. Moriyama, invested $34,121.28 into 1,149 shares of DMLP, for a cost per share of $29.70. 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 Wednesday, bargain hunters could buy shares of Dorchester Minerals LP (NASDAQ:DMLP) and achieve a cost basis 3.9% cheaper than Moriyama, with shares changing hands as low as $28.54 per share. It should be noted that Moriyama has collected $0.97/share in dividends since the time of their purchase, so they are currently down 0.6% on their purchase from a total return basis. Dorchester Minerals LP shares are currently trading up about 0.5% on the day. The chart below shows the one year performance of DMLP shares, versus its 200 day moving average:
Looking at the chart above, DMLP's low point in its 52 week range is $16.95 per share, with $32.6099 as the 52 week high point — that compares with a last trade of $28.61. By comparison, below is a table showing the prices at which DMLP insider buying was recorded over the last six months:
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