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.
On Thursday, Oxford Lane Capital Corporation ( OXLC )'s President, Saul B. Rosenthal, made a $195,800 purchase of OXLC, buying 20,000 shares at a cost of $9.79 a piece. Oxford Lane Capital Corporation is trading up about 2.3% on the day Monday. This purchase marks the first one filed by Rosenthal in the past year.
And at Energy Transfer Partners LP ( ETP ), there was insider buying on Thursday, by Director David K. Skidmore who bought 10,000 shares for a cost of $18.64 each, for a total investment of $186,400. Before this latest buy, Skidmore made one other buy in the past year, purchasing $111,536 shares at a cost of $35.65 a piece. Energy Transfer Partners LP is trading up about 1.3% on the day Monday. Skidmore was up about 5.5% on the buy at the high point of today's trading session, with ETP trading as high as $19.67 in trading on Monday.