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).

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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:

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