A 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 $301K by J. Michael Stice, CEO at Access Midstream Partners LP (ACMP).
Stice bets big on ACMP:
|12/11/2013||J. Michael Stice||CEO||5,900||$51.02||$301,023.90|
Stice's average cost works out to $51.02/share. Shares of Access Midstream Partners LP were changing hands at $56.81 at last check, trading down about 0.2% on Thursday. The chart below shows the one year performance of ACMP shares, versus its 200 day moving average:
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