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 March 25, MGE Energy Inc's CEO, Jeffrey M. Keebler, invested $34,973.75 into 525 shares of MGEE, for a cost per share of $66.62. 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 MGE Energy Inc (Symbol: MGEE) and achieve a cost basis even cheaper than Keebler, with shares changing hands as low as $66.57 per share. MGE Energy Inc shares are currently trading up about 0.6% on the day. The chart below shows the one year performance of MGEE shares, versus its 200 day moving average:
Looking at the chart above, MGEE's low point in its 52 week range is $55.0699 per share, with $68.95 as the 52 week high point — that compares with a last trade of $67.85. By comparison, below is a table showing the prices at which MGEE insider buying was recorded over the last six months:
|03/25/2019||Jeffrey M. Keebler||Chairman, President and CEO||525||$66.62||$34,973.75|
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