Insider Buying Pointing To Three Stocks Trading On The Cheap

We will now take a look at the insider buys at Civeo Corporation (Canada) (NYSE:CVEO), a low-priced stock acquired by two insiders in September. Bradley J. Dodson, who serves as President and Chief Executive Officer, purchased 70,000 shares at prices in the range of $1.49-to-$1.56 last week. Following the recent transactions, the executive holds a position comprised of 777,476 shares. It is also worth pointing out that he acquired an additional 256,000 shares during September. At the same time, Frank C. Steininger, who has been acting as Chief Financial Officer, Senior Vice President and Treasurer since May 2014, bought 40,000 shares at a weighted average price of $1.89, boosting his stake to 169,274 shares. Even though Civeo Corporation is not an actual energy company, its operations and activities are fully linked to the struggling energy industry. The company, which provides remote site accommodations to the natural resource industry, has seen its shares drop more than 58% since the start of 2015, so there are no doubts that these insiders have been acquiring shares on weakness. Israel Englander’s Millennium Management is bullish on Civeo Corporation (Canada) (NYSE:CVEO), holding a 4.59 million share-stake.

Lastly, we will examine the insider trading activity at close-ended mutual fund Kayne Anderson Midstream Energy Fd Inc. (NYSE:KMF). Chief Financial Officer and Treasurer Terry A. Hart added 8,000 shares, acquired for $19.64 each, to a holding that now consists of 11,378 shares. Similarly, Vice President Jody Meraz purchased 3,000 shares at $19.40 apiece and currently holds 5,128 shares. The closed-end mutual fund primarily invests in energy master limited partnerships (MLPs), which doubtlessly serves as an explanation for its disappointing stock performance in 2015. The stock has lost over 40% year-to-date, but appears to be bouncing back at the moment. The mutual fund’s net assets added up to $420 million on September 30, which yielded a net asset value per share lower than its actual share price on the market. However, the aforementioned insiders might be betting on a turnaround in the energy sector, which will surely improve their returns for shareholders.

Disclosure: None