Boston, MA 09/04/2014 (wallstreetpr) – Independent energy company, U.S. Energy Corp. (NASDAQ:USEG) Independent Director Jerry Danni had acquired shares of the company for the second time within a week’s period. This signals the return of the insiders to buy the company’s shares after nearly four months of remaining in the sidelines.
Acquires Shares
The company’s Independent Director, Jerry Danni, had acquired 1,192 shares at an average cost of $4.09 a share by shelling out $4,875 on September 2, according to a filing by the company with the Securities and Exchange Commission. This was preceded by another purchase of 8,808 shares at the rate of $4.00 a share for approximately $35K on August 29.
The purchasing price indicated that the Independent Director had paid a discount of 19.5% – 21.3% from the 52-week high price of $5.08 but paid a hefty premium in the range of 116% – 121% over the yearly low price of $1.85 to buy these shares.
In a two-day period, Jerry Danni had acquired 10K shares by paying around $40K. This seemed to have been his first purchase though he has been with the company since June 2011.
Previous Insider Activities
In the last three-month period, there were no buying activities from the insiders, as per Nasdaq data. However, there were four transactions of selling activities by the insiders in the stock. A total of 137,348 shares were sold during the same period.
The last time the insider buying activities happened was on May 2 when U.S. Energy Corp. ( NASDAQ:USEG)’s Chairman of the Board and Chief Executive Officer, Keith Larsen had acquired 3,815 shares to increase his holding to about 238K shares in the company. After this transaction, the insider returned to buy its shares only on August 29.
One-Year Period
For the 12-month period, U.S. Energy Corp. ( NASDAQ:USEG) insiders have done 17 transactions with ten relating to buying activities and seven in respect of the sale activities. In terms of number of shares, sale quantity outnumbered buying quantity. While close to 68K shares was purchased, nearly 207K shares were sold during the one-year period. Therefore, the net sales were approximately 139K shares by the insiders.
