JDirectors of a company tend to have a unique inside view of the company. Thus, when directors make large purchases, investors are advised to take this into account. Presumably the only reason a director of a company would choose to take his hard-earned money and use it to buy stock on the open market is because he expects to make money – maybe he finds the stock very undervalued, or maybe he sees some interesting things happening within the company, or maybe both. So, in this series, we take a look at the biggest insider buys by CEOs in the last six months, one of which totaled $3.2 million by Robert Robotti, head of Tidewater Inc (ticker: TDW).
|05/16/2022||Robert Robotti||Director||140 113||$22.49||$3,151,194.38|
Robotti’s average cost is $22.49/share. Shares of Tidewater Inc were changing hands at $26.92 at last check, trading up around 1.3% on Tuesday. The chart below shows the one-year performance of TDW shares, compared to its 200-day moving average:
Looking at the chart above, TDW’s low point in its 52-week range is $9.75 per share, with $28.79 as its 52-week high – compare with a last trade of 26.92 $.
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