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, Oxford Lane Capital Corporation (NASDAQ:OXLC)'s President, Saul B. Rosenthal, made a $195,800 purchase of OXLC, buying 20,000 shares at a cost of $9.79 a piece. Oxford Lane Capital Corporation is trading up about 2.3% on the day Monday. This purchase marks the first one filed by Rosenthal in the past year.
And at Energy Transfer Partners LP (ETP), there was insider buying on Thursday, by Director David K. Skidmore who bought 10,000 shares for a cost of $18.64 each, for a total investment of $186,400. Before this latest buy, Skidmore made one other buy in the past year, purchasing $111,536 shares at a cost of $35.65 a piece. Energy Transfer Partners LP is trading up about 1.3% on the day Monday. Skidmore was up about 5.5% on the buy at the high point of today's trading session, with ETP trading as high as $19.67 in trading on Monday.
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