Credit: Shutterstock photoThere's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 8, Matador Resources Co's Director, David M. Posner, invested $99,171.50 into 4,115 shares of MTDR, for a cost per share of $24.10. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Matador Resources Co (Symbol: MTDR) and achieve a cost basis 1.0% cheaper than Posner, with shares changing hands as low as $23.87 per share. Matador Resources Co shares are currently trading off about 0.2% on the day. The chart below shows the one year performance of MTDR shares, versus its 200 day moving average:
Looking at the chart above, MTDR's low point in its 52 week range is $19.99 per share, with $28.51 as the 52 week high point - that compares with a last trade of $23.88. By comparison, below is a table showing the prices at which MTDR insider buying was recorded over the last six months:
According to the ETF Finder at ETF Channel, MTDR makes up 1.75% of the First Trust Natural Gas ETF (Symbol: FCG) which is trading higher by about 0.3% on the day Tuesday.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
