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 two noteworthy recent insider buys.
At NuStar Energy, a filing with the SEC revealed that on Tuesday, Director William E. Greehey bought 68,075 shares of NS, at a cost of $28.38 each, for a total investment of $1.93M. Bargain hunters can buy NS even cheaper than Greehey did, with shares changing hands as low as $27.89 at last check today which is 1.7% below Greehey's purchase price. NuStar Energy is trading up about 0.2% on the day Wednesday. Before this latest buy, Greehey purchased NS on 2 other occasions during the past year, for a total cost of $12.3M at an average of $23.94 per share.
And on Friday, Director Kenneth M. Jastrow II purchased $1.08M worth of Genesis Energy, purchasing 50,000 shares at a cost of $21.54 each. Genesis Energy is trading down about 0.1% on the day Wednesday.
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