There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 27, HCI Group Inc's Chief Executive Officer, Paresh Patel, invested $65,619.00 into 1,550 shares of HCI, for a cost per share of $42.33. Bargain hunters tend to pay particular attention to insider buys like this one, because 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.In trading on Tuesday, bargain hunters could buy shares of HCI Group Inc ( HCI) and achieve a cost basis even cheaper than Patel, with shares changing hands as low as $42.27 per share. HCI Group Inc shares are currently trading down about 0.9% on the day. The chart below shows the one year performance of HCI shares, versus its 200 day moving average: Looking at the chart above, HCI's low point in its 52 week range is $35.30 per share, with $51.44 as the 52 week high point — that compares with a last trade of $42.01. By comparison, below is a table showing the prices at which HCI insider buying was recorded over the last six months:
|05/27/2015||Paresh Patel||Chief Executive Officer||1,550||$42.33||$65,619.00|
According to the ETF Finder at ETF Channel, HCI makes up 2.23% of the PowerShares International BuyBack Achievers Portfolio ETF ( IPKW) which is trading lower by about 0.6% on the day Tuesday.