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 November 22, American Midstream Partners LP's CEO, Lynn L. Bourdon III, invested $124,854.50 into 10,000 shares of AMID, for a cost per share of $12.49. 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.

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In trading on Tuesday, bargain hunters could buy shares of American Midstream Partners LP ( AMID - Get Report) and achieve a cost basis 1.5% cheaper than Bourdon III, with shares changing hands as low as $12.30 per share. American Midstream Partners LP shares are currently trading up about 0.4% on the day. The chart below shows the one year performance of AMID shares, versus its 200 day moving average:

American Midstream Partners LP Chart

Looking at the chart above, AMID's low point in its 52 week range is $11.10 per share, with $18.45 as the 52 week high point — that compares with a last trade of $12.30. By comparison, below is a table showing the prices at which AMID insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
11/22/2017 Lynn L. Bourdon III Chairman, President and CEO 10,000 $12.49 $124,854.50

AMID makes up 3.35% of the Zacks MLP High Income Index Shares ETF ( ZMLP)