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 dollars to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
At NGL Energy Partners LP (NYSE:NGL), there was insider buying on Friday, by Chief Executive Officer H. Michael Krimbill who bought 30,000 shares for a cost of $11.22 each, for a trade totaling $336,747. Before this latest buy, Krimbill made one other buy in the past twelve months, purchasing $664,762 shares at a cost of $8.86 a piece. NGL Energy Partners LP is trading off about 1.8% on the day Wednesday. Bargain hunters have the opportunity to snag NGL even cheaper than Krimbill did, with the stock changing hands as low as $10.75 at last check today which is 4.2% under Krimbill's purchase price.
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