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Snag This Cheap Metals Stock Even Lower Than CEO & President Aguero Did

By Metals Channel Staff, Monday, November 19, 10:29 AM ET
Play Video: One Reason For Insiders to Buy

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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 14, Metalico Inc's CEO & President, Carlos E. Aguero, invested $92,955.80 into 55,496 shares of MEA, for a cost per share of $1.68. 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.

In trading on Monday, bargain hunters could buy shares of Metalico Inc (AMEX:MEA) and achieve a cost basis 1.5% cheaper than Aguero, with shares changing hands as low as $1.65 per share. Metalico Inc shares are currently trading up about 3.7% on the day. The chart below shows the one year performance of MEA shares, versus its 200 day moving average:

Metalico Inc Chart

Looking at the chart above, MEA's low point in its 52 week range is $1.59 per share, with $5.23 as the 52 week high point that compares with a last trade of $1.70. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
11/14/2012 Carlos E. Aguero CEO & President 55,496 $1.68 $92,955.80
11/16/2012 Carlos E. Aguero CEO & President 47,004 $1.64 $77,086.56

MEA makes up 1.28% of the Environmental Services ETF (AMEX:EVX)

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This Article's Word Cloud:   AMEX   Aguero   Carlos   Income   Insider   Metalico   President   Price   Purchased   Share   Special   Start   Street   Value   about   bargain   below   buying   buys   changing   chart   cost   currently   earned   expect   hunters   income   insider   last   makes   many   market   only   open   point   portfolio   reason   reasons   share   shares   stock   table   take   that   their   trading   versus   week   which   with

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