Anheuser-Busch Thirsty for Craft Brewers, Poll Says

"Insiders sell for multiple reasons, but typically only buy for one of two reasons," Peterson said. "They expect the stock price to rise, or, in some company-specific cases, they're contractually required to own X-amount of company shares, so they're buying to meet that requirement. Right or wrong, when the CFO -- the numbers guy -- buys, people listen."

Peterson thinks the idea of Anheuser-Busch acquiring Craft Brewers is premature. "The BUD ownership combined with the distribution agreement change is the headline-catching "sizzle," but the longer-term potential of the brands is what excites us."

"The company has performed better than I imagined, especially from a gross margin perspective, and the Kona acquisition plus distribution agreement change are major positives," said Peterson, who began buying HOOK shares early this year when they traded in the $2.40 to $2.70 range.

Even trading upwards of $6, Craft's shares "are still attractively valued," he said.

--Written by Miriam Marcus Reimer in New York.

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