Friday 12/5 Insider Buying Report: EPE, CRK Friday, December 5, 3:48 PM ET
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.
On Monday, EP Energy Corp. (EPE)'s CEO, Brent J. Smolik, made a $249,994 buy of EPE, purchasing 23,900 shares at a cost of $10.46 each. Bargain hunters are able to grab EPE even cheaper than Smolik did, with the stock changing hands as low as $9.06 in trading on Friday which is 13.3% below Smolik's purchase price. EP Energy Corp. is trading up about 3.2% on the day Friday. Before this latest buy, Smolik purchased EPE on 6 other occasions during the past twelve months, for a total cost of $2.26M at an average of $15.66 per share.
And also on Monday, Director Cecil E. Martin Jr. bought $177,400 worth of Comstock Resources (CRK), buying 20,000 shares at a cost of $8.87 each. Comstock Resources is trading off about 2% on the day Friday. Investors can buy CRK at a price even lower than Martin Jr. did, with the stock trading as low as $6.64 at last check today -- that's 25.1% below Martin Jr.'s purchase price.
For MarketNewsVideo.com, I'm Kristin Bianco.
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