There'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 May 7, MDU Resources Group Inc's President-WBI Holdings, Rob L. Johnson, invested $923,970.08 into 36,291 shares of MDU, for a cost per share of $25.46. 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 Friday, bargain hunters could buy shares of MDU Resources Group Inc (Symbol: MDU) and achieve a cost basis 40.6% cheaper than Johnson, with shares changing hands as low as $15.13 per share. It should be noted that Johnson has collected $0.26/share in dividends since the time of their purchase, so they are currently down 39.6% on their purchase from a total return basis. MDU Resources Group Inc shares are currently trading down about 2.8% on the day. The chart below shows the one year performance of MDU shares, versus its 200 day moving average:
Looking at the chart above, MDU's low point in its 52 week range is $9.8298 per share, with $16.63 as the 52 week high point — that compares with a last trade of $15.18. By comparison, below is a table showing the prices at which MDU insider buying was recorded over the last six months:
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 05/07/2024 | Rob L. Johnson | President-WBI Holdings | 36,291 | $25.46 | $923,970.08 |
Free Report: Top 8%+ Dividends (paid monthly)
Click here to find out which 9 other energy stock bargains you can buy cheaper than insiders »
Also see:
INSG Insider Buying
Institutional Holders of EIRL
PSEM Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
