Monday 7/11 Insider Buying Report: ESNT, MMLP Monday, July 11, 11:28 AM 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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Essent Group (ESNT), a filing with the SEC revealed that on Wednesday, Director Andrew Turnbull purchased 36,353 shares of ESNT, at a cost of $21.33 each, for a total investment of $775,409. So far Turnbull is in the green, up about 9.0% on their purchase based on today's trading high of $23.24. Essent Group is trading up about 1.3% on the day Monday.
And on Friday, Executive Vice President/COO Randall Tauscher purchased $2,235 worth of Martin Midstream Partners LP (MMLP), purchasing 94 shares at a cost of $23.68 a piece. Before this latest buy, Tauscher bought MMLP on 9 other occasions during the past year, for a total cost of $173,525 at an average of $16.88 per share. Martin Midstream Partners LP is trading up about 0.8% on the day Monday. So far Tauscher is in the green, up about 1.7% on their purchase based on today's trading high of $24.07.
For MarketNewsVideo.com, I'm Sayoko Murase.
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