Credit: Shutterstock photoA 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 $789.5K invested across 3 purchases by Thomas L. Carter Jr., President, CEO and Chairman at Black Stone Minerals LP (Symbol: BSM).
Carter Jr.'s average cost works out to $17.70/share. In trading on Friday, bargain hunters could buy shares of Black Stone Minerals LP (Symbol: BSM) and achieve a cost basis lower than Carter Jr., with shares changing hands as low as $16.48 per share. Shares of Black Stone Minerals LP were changing hands at $16.77 at last check, trading up about 2.4% on Friday. The chart below shows the one year performance of BSM shares, versus its 200 day moving average:
Looking at the chart above, BSM's low point in its 52 week range is $14.24 per share, with $19.86 as the 52 week high point - that compares with a last trade of $16.77.
According to the ETF Finder at ETF Channel, BSM makes up 4.85% of the Junior MLP ETF (Symbol: MLPJ) which is trading higher by about 1.4% on the day Friday.
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
