The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock 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 company directors over the trailing six month period, one of which was a total of $406.8K by Steven D. Gray, Chief Executive Officer at RSP Permian Inc. (RSPP).Gray bets big on RSPP:
|12/09/2014||Steven D. Gray||Chief Executive Officer||20,000||$20.34||$406,800.00|
According to the ETF Finder at ETF Channel, RSPP makes up 1.61% of the SPDR S&P Oil & Gas Exploration & Production ETF ( XOP) which is trading lower by about 5.4% on the day Wednesday.