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, a filing with the SEC revealed that on Tuesday, Chief Executive Officer H. Michael Krimbill bought 100,000 shares of NGL, for a cost of $9.68 each, for a total investment of $967,950. NGL Energy Partners is trading up about 1.5% on the day Thursday. Before this latest buy, Krimbill bought NGL on 3 other occasions during the past twelve months, for a total cost of $2.12M at an average of $11.44 per share.
And at PPD, there was insider buying on Monday, by Chief Operating Officer William J. Sharbaugh who purchased 30,000 shares for a cost of $27.00 each, for a trade totaling $810,000. This purchase marks the first one filed by Sharbaugh in the past year. PPD is trading off about 1% on the day Thursday. So far Sharbaugh is in the green, up about 19.4% on their buy based on today's trading high of $32.25.
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