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.
On Thursday, Hi-Crush Partners LP (HCLP)'s Director, John R. Huff, made a $1.59M purchase of HCLP, buying 50,000 shares at a cost of $31.85 a piece. Hi-Crush Partners LP is trading up about 4.2% on the day Tuesday.
And on Friday, Chief Executive Officer Gary R. Heminger bought $571,057 worth of MPLX LP (NYSE:MPLX), buying 9,300 shares at a cost of $61.40 each. This buy marks the first one filed by Heminger in the past twelve months. MPLX LP is trading off about 0.3% on the day Tuesday. Investors are able to grab MPLX even cheaper than Heminger did, with the stock trading as low as $59.28 at last check today -- that's 3.5% under Heminger's purchase price.
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