Corporate insiders sell their own companies' stock for a number of reasons. They might need the cash for a big personal purchase such as a new house, or they might need the cash to fund a charity. Sometimes they sell as part of a planned program that they have put in place for diversification purposes.

Insiders, however, usually buy their own shares for one reason only: They think the stock is cheap and has tremendous upside.

Recently, a number of companies' corporate insiders have bought stock. These insiders are finding some value in this market, which warrants a closer look at these names.

Bristol-Myers Squibb

One healthcare player that insiders are active in here is Bristol-Myers Squibb (BMY) , which discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide.

Bristol-Myers Squibb has a market cap of $94.6 billion. This stock trades at a fair valuation, with a forward price-to-earnings of 18.2. Its estimated growth rate for this year is -0.40%, and for next year it's pegged at 9.6%. This is not a cash-rich company, since its total cash position is $6.36 billion and its total debt is $6.71 billion.

A director just bought 12,000 shares, or 681,000 worth of stock, at $56.77 per share.

If you're bullish on Bristol-Myers Squibb, then I would look for long-biased trades as long as this stock is trending above its 50-day at $54.67 and then once it breaks out above resistance at $57.49 with volume near or above its three-month average of 12.78 million shares. Some possible upside targets are its next major resistance levels at its 200-day moving average of $59.49 to $60.45, or even $64 a share.

Murphy USA

Another services player that insiders are jumping into here is Murphy USA (MUSA) , which operates a chain of retail stores in the U.S.

Murphy USA has a market cap of $2.42 billion. This stock trades at a reasonable valuation, with a forward price-to-earnings of 12.63. Its estimated growth rate for this year is 9.2%, and for next year it's pegged at 12.6%. This is not a cash-rich company, since its total cash position is $153.81 million and its total debt is $670.22 million.

A director just bought 10,000 shares, or about $644,000 worth of stock, at $64.49 per share.

If you're bullish on Murphy USA, I would look for long-biased trades, if this stock is trending above its 50-day at $64.22 and then once it breaks out above resistance at $67.50 to $68.83 with volume near or above its three-month average of 581,603 shares. Some possible upside targets off that move are $70.61 to $71.50, or even $73 a share.

Fiesta Restaurant Group

One restaurants player insiders are loading up on here is Fiesta Restaurant Group (FRGI) , which owns, operates, and franchises fast-casual restaurants.

Fiesta Restaurant Group has a market cap of 557 million. This stock trades at a fair valuation, with a forward price-to-earnings of 16.2. Its estimated growth rate for this year is -11.6%, and for next year it's pegged at 12.3%. This is not a cash-rich company, since its total cash position is $4.20 million and its total debt is $73.18 million.

A director just bought 660,000 shares, or $13.41 million worth of stock, at $19.83 per share.

If you're in the bull camp on Fiesta Restaurant Group, I would look for long-biased trades if this stock is trending above its recent low of $19.40 and once it breaks out above resistance at $21.35 to $21.50 with volume near or above its three-month average of 373,210 shares. If that breakout hits soon, then this stock has a chance to re-fill some of its recent gap-down-day zone that started near $26 a share.

Cott

One consumer goods player that insiders are in love with here is Cott (COT) , which produces and sells beverages on behalf of retailers, brand owners, and distributors worldwide.

Cott has a market cap of $1.58 billion. This stock trades at a reasonable valuation, with a forward price-to-earnings of 23.58. Its estimated growth rate for this year is -16.7%, and for next year it's pegged at 140%. This is not a cash-rich company, since its total cash position is $118.10 million and its total debt is $2.20 billion.

A director just bought 125,000 shares, or $1.32 million worth of stock, at $10.60 per share.

If you're bullish on Cott, I would look for long-biased trades if this stock is trending above its 20-day at $10.96 and then once it breaks out above resistance at $12 to $12.30 with volume near or above its three-month average of 857,050 shares. Some possible upside targets off that breakout are $13 to its 200-day at $13.31, or even $14.15 a share.

SunOpta

My final stock with some big insider buying is consumer goods player SunOpta (STKL) , which operates businesses focused on a healthy products portfolio.

SunOpta has a market cap of $683 million. This stock trades at a reasonable valuation, with a forward price-to-earnings of 21.8. Its estimated growth rate for this year is 128.6%, and for next year its pegged at 100%. This is not a cash-rich company, since its total cash position is $1.25 million and its total debt is $432.58 million.

A beneficial owner just bought 2,509,921 shares, or $17.31 million worth of stock, at $6.87 to $6.95 per share.

If you're bullish on SunOpta, I would look for long-biased trades if this stock is trending above its 200-day at $6.37 and then once it breaks out above resistance at $7.45 to $7.60 and above its 52-week high of $7.70 with volume near or above its three-month average of 450,730 shares. Some possible upside targets off that breakout are $8.50 to $9, or even $10 a share.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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