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 Gran Tierra Energy ( GTE ), a filing with the SEC revealed that on Wednesday, Director Brooke N. Wade bought 100,000 shares of GTE, for a cost of $2.91 each, for a total investment of $291,480. Wade was up about 5.3% on the purchase at the high point of today's trading session, with GTE trading as high as $3.07 in trading on Monday. Gran Tierra Energy is trading down about 2.6% on the day Monday. This buy marks the first one filed by Wade in the past twelve months.
And at Ferrellgas Partners ( FGP ), there was insider buying on Wednesday, by Director Daniel G. Kaye who bought 10,000 shares for a cost of $23.12 each, for a total investment of $231,200. Before this latest buy, Kaye bought FGP at 3 other times during the past twelve months, for a total cost of $210,434 at an average of $23.38 per share. Ferrellgas Partners is trading off about 0.2% on the day Monday.