Top Buys by Top Brass: Chief Financial Officer Busmire's $182.2K Bet on EXXI

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 $182.2K invested across 2 purchases by Bruce W. Busmire, Chief Financial Officer at Energy XXI Ltd. ( EXXI).

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Busmire bets big on EXXI:
Purchased Insider Title Shares Price/Share Value
12/01/2014 Bruce W. Busmire Chief Financial Officer 20,000 $3.90 $78,000.00
03/06/2015 Bruce W. Busmire Chief Financial Officer 25,000 $4.17 $104,250.00

Busmire's average cost works out to $4.05/share. In trading on Monday, bargain hunters could buy shares of Energy XXI Ltd. ( EXXI) and achieve a cost basis lower than Busmire, with shares changing hands as low as $3.65 per share. Shares of Energy XXI Ltd. were changing hands at $3.69 at last check, trading off about 1.9% on Monday. The chart below shows the one year performance of EXXI shares, versus its 200 day moving average:

Energy XXI Ltd. Chart

Looking at the chart above, EXXI's low point in its 52 week range is $2.30 per share, with $24.20 as the 52 week high point — that compares with a last trade of $3.69.

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