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 Lions Gate Entertainment Corp. (NYSE:LGF.B), a filing with the SEC revealed that on Thursday, Director Gordon Crawford purchased 35,000 shares of LGF.B, for a cost of $26.45 each, for a total investment of $925,820. Lions Gate Entertainment Corp. is trading up about 0.4% on the day Friday.
And at Energy Transfer Partners LP (ETP), there was insider buying on Wednesday, by Director David K. Skidmore who purchased 3,129 shares at a cost of $35.65 each, for a total investment of $111,536. Before this latest buy, Skidmore made one other purchase in the past twelve months, buying $85,617 shares for a cost of $28.54 a piece. Energy Transfer Partners LP is trading up about 0.4% on the day Friday. So far Skidmore is in the green, up about 1.7% on their purchase based on today's trading high of $36.25.
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