Friday 12/6 Insider Buying Report: SREV, HP
Energy Stock Channel - Friday, December 6, 3:02 PM
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At ServiceSource International (SREV), a filing with the SEC revealed that on Tuesday, CEO Michael A. Smerklo bought 17,400 shares of SREV, for a cost of $8.68 each, for a total investment of $151,089. Bargain hunters have the opportunity to snag SREV at a price even lower than Smerklo did, with the stock trading as low as $8.25 at last check today -- that's 5.0% under Smerklo's purchase price. Before this latest buy, Smerklo bought SREV at 4 other times during the past twelve months, for a total investment of $497,263 at an average of $7.01 per share.
And also on Tuesday, Director Thomas A. Petrie bought $135,186 worth of Helmerich & Payne (HP), buying 1,700 shares at a cost of $79.52 each. This buy marks the first one filed by Petrie in the past twelve months. Helmerich & Payne is trading down about 0.6% on the day Friday.