Insiders Were Right: MEMP Makes New 52-Week High

In trading on Thursday, shares of Memorial Production Partners LP (MEMP) touched a new 52-week high of $21.37/share. That's a 29.52% rise, or $4.87 per share from the 52-week low of $16.50 set back on 12/07/2012. That means at today's intraday high, any investor who purchased MEMP stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, MEMP has seen 2 different instances of insiders buying over the trailing six month period.

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Ten Bargains You Can Buy Cheaper Than The Insiders Did »

Purchased Insider Title Shares Price/Share Value
08/12/2013 Jonathan M. Clarkson Director 5,000 $20.79 $103,950.00
08/13/2013 Robert A. Innamorati Director 24,292 $20.68 $502,313.06

The chart below shows where MEMP has traded over the past year, with the 50-day and 200-day moving averages included.

Memorial Production Partners LP Moving Averages Chart

In afternoon trading on Thursday, MEMP shares are changing hands at $21.19/share, slightly below the new 52-week high.

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