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 $110K by Stacy Locke, CEO at Pioneer Energy Services Corp ( PES).Locke bets big on PES:
|12/01/2014||Stacy Locke||President & CEO||19,093||$5.76||$109,975.68|
Looking at the chart above, PES's low point in its 52 week range is $5.47 per share, with $18.40 as the 52 week high point — that compares with a last trade of $6.18. According to the ETF Finder at ETF Channel, PES makes up 1.73% of the PowerShares Dynamic Oil & Gas Services Portfolio ETF ( PXJ) which is trading higher by about 1.8% on the day Wednesday.