Insiders Were Right: MHR Makes New 52-Week High

In trading on Friday, shares of Magnum Hunter Resources Corp ( MHR) touched a new 52-week high of $8.14/share. That's a 243.46% rise, or $5.77 per share from the 52-week low of $2.37 set back on 04/22/2013. That means at today's intraday high, any investor who purchased MHR 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, MHR has seen 3 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
09/17/2013 Joe L. McClaugherty Director 7,000 $5.28 $36,960.00
11/18/2013 Joe L. McClaugherty Director 30,625 $6.85 $209,882.75
12/11/2013 Joe L. McClaugherty Director 20,000 $6.07 $121,402.00
12/11/2013 Gary C. Evans Chairman and CEO 30,000 $6.08 $182,550.00
12/12/2013 Joseph C. Daches CFO 10,000 $6.25 $62,500.00
12/13/2013 Joseph C. Daches CFO 10,000 $6.20 $62,000.00

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

Magnum Hunter Resources Corp  Moving Averages Chart

In afternoon trading on Friday, MHR shares are changing hands at $7.83/share, slightly below the new 52-week high.

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