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| AM Trading Below Director's Recent Buy PriceBy Energy Stock Channel Staff, Tuesday, September 19, 11:24 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 August 22, Antero Midstream Corp's Director, Janine J. McArdle, invested $71,891.56 into 6,011 shares of AM, for a cost per share of $11.96. 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 Tuesday, bargain hunters could buy shares of Antero Midstream Corp (NYSE:AM) and achieve a cost basis 1.9% cheaper than McArdle, with shares changing hands as low as $11.73 per share. Antero Midstream Corp shares are currently trading down about 0.4% on the day. The chart below shows the one year performance of AM shares, versus its 200 day moving average:
Looking at the chart above, AM's low point in its 52 week range is $8.80 per share, with $12.35 as the 52 week high point — that compares with a last trade of $11.78. By comparison, below is a table showing the prices at which AM insider buying was recorded over the last six months:
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