Investing

Huge Energy Insider Buy Highlights Short Trading Week

With traders taking the day off to celebrate the Good Friday market holiday, insiders had a shortened trading week to acquire more stock. That certainly did not stop anybody, and as we have mentioned recently, we are starting to see more action in sectors that have been trailing, most notably energy. That is a good sign for investors, because anytime insiders start making large commitments, the beginning of the end could be at hand.

We cover insider buying every week at 24/7 Wall St., and although the volumes do not always match the selling volumes, we have seen consistent buying through the first quarter of the year. That is another positive sign for equity investors.

Here are the companies that reported significant insider buying this past week:

Chesapeake Energy Corp. (NYSE: CHK) has had a very turbulent past two years, but investors in the natural gas giant will be happy to know that a director of the company made a gigantic buy this week. This was not just any director either. Chairman Archie Dunham bought a block of a million shares at a price of $13.98. The total buy came to $13.98 million. Chesapeake closed trading on Thursday at $14.59, so it was a very well-timed purchase.

ALSO READ: Really Big Insider Buying in Chesapeake Shares

Ryman Hospitality Properties Inc. (NYSE: RHP) also had a top executive buying stock. CEO Colin Reed bought 17,000 shares of stocks at $60.83. The total of the purchase came to $1.01 million. This real estate investment trust (REIT) owns and operates hotels in the United States. Its Hospitality segment operates a network of meetings-focused resorts, including the Gaylord Opryland Resort and Convention Center in Nashville; the Gaylord Opryland Resort and Convention Center in Kissimmee, Fla.; the Gaylord Texan Resort and Convention Center in Grapevine, Texas; and the Gaylord National Resort and Convention Center in Prince George’s County, Md. The stock ended trading Thursday at $62.32, so another very well-timed buy.

Vince Holding Corp. (NASDAQ: VNCE) had a 10% owner add to holdings this week. SK Financial Partners V bought a block of 100,000 shares of the stock at prices that ranged from $17.02 to $17.20. The total of the buy came to $1.71 million. The company designs, merchandises and sells various contemporary fashion brand products in the United States and internationally. It operates through two segments: Wholesale and Direct-To-Consumer. Shares traded at $18.99 on Thursday’s close. Once again, a very timely purchase.

Amtech Systems Inc. (NASDAQ: ASYS) also had a 10% owner buying stock this week, one who has been at the buy window a lot this year. Leslie Schreyer bought an additional 150,000 shares at prices that ranged from $10.95 to $11.00. The total purchase came to $1.65 million. The company designs, assembles, sells and installs capital equipment and related consumables used in the manufacture of wafers, primarily for the solar and semiconductor industries worldwide. Shares ended the week at $11.32.

J.G. Wentworth Co. (NYSE: JGW) is another stock that had a 10% owner adding to positions. Trishield Special Situations bought a block of 133,000 shares at prices between $9.88 and $9.95. The total of the buy came to $1.32 million. J.G. Wentworth provides funding solutions to customers in the United States. It serves the liquidity needs of structured settlement payment holders by providing its customers with cash in exchange for various fixed scheduled future payments. The stock closed most recently at $10.36.

ALSO READ: Big Biotech Stock Sale Highlights Insider Selling Report

These companies also reported insider buying this week: Alico Inc. (NASDAQ: ALCO), First Citizens Bancshares Inc. (NASDAQ: FCNCA), Frank’s International N.V. Inc. (NYSE: FI), Luby’s Inc. (NYSE: LUB) and Neonode Inc. (NASDAQ: NEON).

With more and more energy insiders starting to step up to the plate, investors who have been waiting to buy shares in the beaten down sector may be getting at least a tentative green light.

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