Wednesday, February 28, 2018 10:15 PM ET
Significant Insider purchase of Legacy Reserves LP (LGCY) Shares Extends the Buying Trend of Last Quarter
One Legacy Reserves LP insider — Baines Creek Capital Llc, 10% Owner — today, acquired 540,262 shares having a market value of approximately $1,899,449, as disclosed in a form 4 document filed with the SEC. There was one insider buy/sell transaction in the past 90 days prior to this transaction which resulted in the purchase of 3,214,279 shares. Adding the most recent activity to this 90-day history indicates insider trades have been net purchases of 3,754,541 shares and have averaged 1,877,271 shares per transaction over this time period.
In relation to the peer group over the last 90 days, insider buy/sell trading at Legacy Reserves LP is higher than the 197-company peer group average. Oil & Gas Exploration and Production peer group saw 154 buy/sell trades during this period for an average of 0.8 transactions per company. The number of shares per buy/sell trade for Legacy Reserves LP insiders was also higher. Within the peer group there were 44,873,161 shares purchased and 2,362,623 shares sold with company insiders having bought 433,781 shares on average.
Insider buying and selling activity that is significant has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in evaluating and writing this story.
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