Monday, March 05, 2018 10:15 PM ET
Insider at Legacy Reserves LP (LGCY) Makes Significant purchase of Stock Extends the Trend of Last Quarter
There was noteworthy purchase activity in Legacy Reserves LP shares by an insider today, as disclosed in a form 4 document filed with the SEC. One insider — Baines Creek Capital Llc, 10% Owner — bought 434,137 shares in the company having a market value of approximately $1,718,208. There was one insider buy/sell transaction in the past 90 days prior to this transaction which resulted in the purchase of 3,754,541 shares. Adding the most recent activity to this 90-day history indicates insider trades have been net purchases of 4,188,678 shares and have averaged 2,094,339 shares per transaction over this time period.
During the last 90 days, the number of insider buy/sell trades at Legacy Reserves LP is greater than the 197-company peer group average. Oil & Gas Exploration and Production peer group saw 158 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 45,527,425 shares purchased and 2,308,900 shares sold with company insiders acquiring 419,597 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 creating and writing this story.
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