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 NGL Energy Partners LP (NYSE:NGL), a filing with the SEC revealed that on Friday, Chief Executive Officer H. Michael Krimbill bought 60,000 shares of NGL, at a cost of $12.72 each, for a total investment of $763,122. Krimbill was up about 6.5% on the buy at the high point of today's trading session, with NGL trading as high as $13.54 in trading on Tuesday. NGL Energy Partners LP is trading up about 1.9% on the day Tuesday. Before this latest buy, Krimbill bought NGL on 3 other occasions during the past twelve months, for a total investment of $883,712 at an average of $11.78 per share.
And also on Friday, Director Ronald W. Tysoe bought $590,000 worth of J.C. Penney (NYSE:JCP), buying 1,000,000 shares at a cost of $0.59 each. J.C. Penney is trading up about 8.8% on the day Tuesday. Tysoe was up about 15.1% on the buy at the high point of today's trading session, with JCP trading as high as $0.68 at last check today.
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