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 Farmers National Banc, a filing with the SEC revealed that on Friday, Director Edward Muransky purchased 18,560 shares of FMNB, at a cost of $14.83 each, for a total investment of $275,245. Farmers National Banc is trading down about 0.2% on the day Monday. Before this latest buy, Muransky bought FMNB at 6 other times during the past year, for a total cost of $642,784 at an average of $15.76 per share.
And at NGL Energy Partners, there was insider buying on Thursday, by Chief Executive Officer H. Michael Krimbill who purchased 100,000 shares at a cost of $1.85 each, for a total investment of $185,160. Before this latest buy, Krimbill bought NGL on 8 other occasions during the past twelve months, for a total cost of $1.84M at an average of $1.75 per share. NGL Energy Partners is trading down about 5.2% on the day Monday. Bargain hunters can bag NGL at a price even lower than Krimbill did, with shares changing hands as low as $1.69 at last check today -- that's 8.7% under Krimbill's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.