Tuesday 12/2 Insider Buying Report: OCIP, HCLP Tuesday, December 2, 12:34 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 Friday, OCI Partners (OCIP)'s Director, Nassef Sawiris, made a $1.54M purchase of OCIP, buying 90,055 shares at a cost of $17.10 each. OCI Partners is trading off about 1.4% on the day Tuesday. Before this latest buy, Sawiris made one other buy in the past twelve months, purchasing $185,990 shares at a cost of $18.99 each.
And at Hi-Crush Partners (HCLP), there was insider buying on Friday, by Co-CEO and Director Robert E. Rasmus who purchased 30,000 shares at a cost of $38.70 each, for a total investment of $1.16M. Hi-Crush Partners is trading up about 6.2% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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