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| Get An Even Better Deal On VNOM Than Director Armour III DidBy Energy Stock Channel Staff, Friday, March 24, 10:01 AM ET
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 15, Viper Energy Partners LP's Director, Spencer D. Armour III, invested $105,746.00 into 4,000 shares of VNOM, for a cost per share of $26.44. 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 Friday, bargain hunters could buy shares of Viper Energy Partners LP (NASDAQ:VNOM) and achieve a cost basis even cheaper than Armour III, with shares changing hands as low as $26.40 per share. Viper Energy Partners LP shares are currently trading off about 1.4% on the day. The chart below shows the one year performance of VNOM shares, versus its 200 day moving average:
Looking at the chart above, VNOM's low point in its 52 week range is $23.51 per share, with $36.10 as the 52 week high point — that compares with a last trade of $26.50. By comparison, below is a table showing the prices at which VNOM insider buying was recorded over the last six months:
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