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 February 12, Tidewater Inc.'s Director, Robert L. Potter, invested $94,952.00 into 2,000 shares of TDW, for a cost per share of $47.48. 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.
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In trading on Tuesday, bargain hunters could buy shares of Tidewater Inc.
and achieve a cost basis even cheaper than Potter, with shares changing hands as low as $47.16 per share. Tidewater Inc. shares are currently trading off about 2.2% on the day. The chart below shows the one year performance of TDW shares, versus its 200 day moving average:
Looking at the chart above, TDW's low point in its 52 week range is $45.19 per share, with $63.22 as the 52 week high point — that compares with a last trade of $47.31. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
||Robert L. Potter
According to the ETF Finder at ETF Channel, TDW makes up 2.06% of the SPDR S&P Oil & Gas Equipment & Services ETF
which is trading lower by about 0.6% on the day Tuesday.