Markets

Top Buys by Top Brass: CEO Foran's $120.4K Bet on MTDR

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. 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 — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $120.4K by Joseph Wm Foran, CEO at Matador Resources Co (Symbol: MTDR).

Purchased Insider Title Shares Price/Share Value
08/05/2019 Joseph Wm Foran Chairman and CEO 8,000 $15.05 $120,400.00

Foran's average cost works out to $15.05/share. In trading on Tuesday, bargain hunters could buy shares of Matador Resources Co (Symbol: MTDR) and achieve a cost basis lower than Foran, with shares changing hands as low as $14.25 per share. Shares of Matador Resources Co were changing hands at $14.78 at last check, trading down about 1.7% on Tuesday. The chart below shows the one year performance of MTDR shares, versus its 200 day moving average:

Matador Resources Co Chart

Looking at the chart above, MTDR's low point in its 52 week range is $13.97 per share, with $34.905 as the 52 week high point — that compares with a last trade of $14.78.

Click here to find out which other top insider buys by the ''top brass'' you need to know about »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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