Insider buying can be a great sign that a stock is a real value or that it is probably going higher in the near future. Due to the market correction, these stocks have declined substantially from their highs and have recently seen insiders buying shares at prices that appear to be cheap. When you see insider buying at depressed prices, it often means the shares are oversold and offer great long-term value. I have provided links for each stock, which verifies the insider buying filed with the SEC below. Here are the stocks:
SIGA Technologies, Inc. (NASDAQ:SIGA) is trading around $3.27. SIGA is developing products to defend against biological warfare and is based in New York. These shares have traded in a range of $2.61 to $15.66 in the last 52 weeks. The 50-day moving average is $5.39 and the 200-day moving average is $10.70. SIGA is estimated to earn 44 cents per share this year and 49 cents next year. A few directors have been buying stock and one just bought 50,000 shares.
Miller Energy Resources (NYSE:MILL) shares are trading at $2.64. MILL is an oil and gas drilling and exploration company, based in Tennessee. These shares have a 52-week range of $2.02 and $8.04. The 50-day moving average is $3.44, and the 200-day moving average is $5.01. Earnings estimates for MILL are for a loss in 2011, and a loss in 2012. Book value is stated at $7.28. The CEO recently bought 10,000 shares.
Rare Element Resources, Ltd. (NYSEMKT:REE) shares are trading at $5.08. REE is based in Canada, and is a rare earth minerals company. The shares have traded in a range of $5.05 to $17.92 in the past 52 weeks. The 50-day moving average is $8.47 and the 200-day moving average is $11.42. Earnings estimates for REE are for a loss of 8 cents in 2011, and 10 cents in 2012. The rare earth stocks have dropped sharply in the past few weeks. A director recently bought about 22,000 shares.
VMware Inc. (NYSE:VMW)
are trading at $80.38. VMware provides virtualization and cloud computing services. These shares have traded in a range of $71.04 to $111.43 in the last 52 weeks. The 50-day moving average is $90.07 and the 200-day moving average is $90.40. Earnings estimates are for $2.08 for 2011, and $2.46 for 2012. EMC Corp. (NYSE:EMC
) just purchased
over 80,000 shares.
Equity One Inc. (NYSE:EQY)
is trading around $15.86. Equity One is a real estate investment trust (REIT) company, based in Florida. This company focuses on shopping centers. These shares have traded in a range of $15.03 to $20.27 in the last 52 weeks. The 50-day moving average is $17.25 and the 200-day moving average is $17.98. EQY is estimated to earn about $1.11 per share in 2011. The dividend is enticing at 88 cents per share, which is equivalent to a 5.3% yield. The chairman recently bought
11,300 shares and has been buying repeatedly.
Smithfield Foods, Inc., (NYSE:SFD)
is trading around $19.50. Smithfield is a meat company based in Virginia. These shares have traded in a range of $14.82 to $24.93 in the last 52 weeks. The 50-day moving average is $20.29 and the 200-day moving average is $21.40. Earnings estimates are for $2.29 for 2011, and $3.39 for 2012. The COO recently bought
about 12,500 shares and other insiders have been buying as well.
Apache Corporation (NYSE:APA)
shares are trading at $80.24. APA is an oil and gas company, based in Texas. These shares have a 52-week range of $80.05 and $134.13. The 50-day moving average is $101.77, and the 200-day moving average is $116.96. Earnings estimates for APA are at $11.82 in 2011, and $12.63 in 2012. A director recently bought
Data sourced from Yahoo Finance and Insidercow.com. The information and data is believed to be accurate, but no guarantees or representations are made.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Disclaimer: Rougemont is not a registered investment advisor and does not provide specific investment advice. The information contained herein is for informational purposes only.
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