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Insiders Bullish for Yet Another Week; What Six Energy and Tech Stocks Did They Buy?
By Michael Brush
Exclusively for InvestorIdeas.com
December 11, 2008
Insiders remained bullish for yet one more week – with buyers outnumbering sellers by a healthy margin. To find the best insider signals to follow in relatively “safe” stocks, I looked for names that had three qualities.
First, insider selling had to be significant for the size of the company – with minimal or no selling. Second, insiders had to have a good record at buying in the past. Third, I looked for little or no debt, some cash, and decent cash flow. As credit conditions remain tight, it may be hard for debt-laden companies to refinance.
The only exceptions in the list below, of course, are the energy companies – which typically carry a lot of debt.
Global Industries (GLBL)
Insiders were big buyers last week at this energy services company – which provides construction and support services to the offshore oil and gas industry in the United States and abroad. Buyers included a director with a great record.
RCM Technologies (RCMT)
RCM Technologies is a true micro cap, with a market cap of just $11 million. So it’s probably being overlooked in this environment. But insiders are paying attention – they bought $246,000 worth of the stock recently. The company offers staffing services – a business which can do well in downturns as companies turn to temp workers to control costs. It also provides information technology and engineering services.
Venoco (VQ)
Insiders at this oil and gas company bought an impressive $2.2 million worth of stock in the past week. Most of the buying was done by the chief executive officer.
Berry Petroleum (BRY)
Insiders with great records posted some impressive buying last week at this energy company. They bought $1.3 million worth of stock.
Weatherford International Ltd. (WFT)
Insiders with healthy records also bought a healthy amount of stock – or $3.1 million worth – at this energy company.
Akamai Technologies Inc. (AKAM)
The chief technology officer at Akamai Technologies is bullish on his company’s stock. He recently purchased $1.1 million worth of stock. Akamai has more cash than debt, and very positive cash flow over the last twelve months.
The bottom line: If you have money – and hope – left for stocks, these six are worth considering because insiders with good records like them at recent levels.
Disclaimer
At the time of publication, Michael Brush did not own or control shares in any of the companies listed in this column. Mr. Brush is an independent columnist for this web site. For more on Insiders Corner disclosure, see the disclosure section in About Insiders Corner: http://www.investorideas.com/insiderscorner/. InvestorIdeas.com Disclaimer: www.InvestorIdeas.com/About/Disclaimer.asp. InvestorIdeas is not affiliated or compensated by the companies mentioned in this article.
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
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