Oiltanking Partners insider: Today, Oct. 7th, L. David Griffis, Director at Oiltanking Partners LP (NYSE:OILT), bought* 91 common stock units from the company at a price of $55 per share. The transaction totaled $5,005, which adds up to his preexisting holdings that now amount to 8,956 shares. His share is now valued at $491,057.
However, this purchase is not fortuitous or a one-time-only kind of buy. Actually, Griffis has been buying company shares every month since Jan. 2012 (always between the 7th and 9th day of the month). Since then, the stock has almost doubled in price. Nevertheless, analysts believe that there is still plenty of upside potential left at Oiltanking Partners, while downside looks pretty limited. In terms of valuation, the stock trades at 8.2 times its earnings, at a 75% discount to the industry average. Meanwhile, its margins and returns are amongst the best in the industry, and its debt levels, acceptable.
Anne-Marie Ainsworth, President, CEO and Director at Oiltanking Partners, has been also betting on the firm for a while now. Between February and September of 2013 (seven months), she increased her participation in the firm by more than four times, passing to hold 9,000 shares, up from 2,000.
Besides these insiders, some hedge funds are also quite bullish on this company. Amongst the funds we track, Jim Simons‘ Renaissance Technologies and Thomas M. Fitzgerald‘s Longbow Capital Partners hold important stakes at Oiltanking Partners. They own $1,468,000 and $1,270,000 in stock, respectively. Although the percentage of their portfolios represented by this investment does not reach 1%, they are still not to be underestimated.
*The transaction reported on this Form 4 was executed pursuant to a unit purchase plan in compliance with Rule 10b5-1 under the Securities Exchange Act of 1934.
Disclosure: Javier Hasse holds no position in any stocks mentioned