In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock 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 when stocks turn up that see insider buying, and are also top ranked, investors are wise to take notice. One such company is Summit Hotel Properties Inc (INN), which saw buying by COO Craig J. Aniszewski.
Back on December 10, Aniszewski invested $10,507.70 into 1,190 shares of INN, for a cost per share of $8.83. In trading on Monday, shares were changing hands as low as $8.95 per share, which is 1.4% above Aniszewski's purchase price. Summit Hotel Properties Inc shares are currently trading +0.33% on the day. The chart below shows the one year performance of INN shares, versus its 200 day moving average:
Looking at the chart above, INN's low point in its 52 week range is $8.54 per share, with $10.56 as the 52 week high point — that compares with a last trade of $9.03. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
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