Top Buys by Directors: Hornbeck's $471.7K Bet on HOS

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 $471.7K invested across 3 purchases by Todd M. Hornbeck, CEO at Hornbeck Offshore Services Inc (HOS).

START SLIDESHOW:
Click here to find out which other top insider buys by company directors you need to know about »

Hornbeck bets big on HOS:
Purchased Insider Title Shares Price/Share Value
02/12/2015 Todd M. Hornbeck President & CEO 10,528 $19.00 $200,032.00
02/23/2015 Todd M. Hornbeck President & CEO 10,464 $19.09 $199,737.74
03/24/2015 Todd M. Hornbeck President & CEO 3,994 $18.00 $71,892.00

Hornbeck's average cost works out to $18.88/share. Shares of Hornbeck Offshore Services Inc were changing hands at $23.75 at last check, trading off about 2.8% on Wednesday. The chart below shows the one year performance of HOS shares, versus its 200 day moving average:

Hornbeck Offshore Services Inc Chart

Looking at the chart above, HOS's low point in its 52 week range is $17.91 per share, with $47.45 as the 52 week high point — that compares with a last trade of $23.75.

According to the ETF Finder at ETF Channel, HOS makes up 2.58% of the SPDR S&P Oil & Gas Equipment & Services ETF ( XES) which is trading lower by about 0.3% on the day Wednesday.

More from Stocks

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat