Hercules Offshore, Inc. (NASDAQ:HERO)’s Director, Steven Webster, purchased 100,000 shares of Common Stock, directly, yesterday, for a price of $4.03 per share. This acquisition completes a series of three large stock purchases executed by the Director over the past week. On Friday, Webster bought 50,000 shares of Common Stock, paying $4.00 per share, just five days after acquiring another 50,000 shares of Common Stock for $4.06. After completing the buy, Webster now owns a total of 1.7 million shares of the $661 million market cap firm.
Insider stock purchases have been quite common throughout June at Hercules Offshore, as company Director Thomas Bates Jr. purchased 20,000 shares for $3.93 per share a week ago. In fact, the same day Hercules’ Chief Executive Officer and President, John Rynd, acquired a bulk of 36,000 shares, paying $4.01 per share. Regarding hedge fund movements, Jim Simons increased the firm’s participation in his portfolio by 28% this quarter, so Renaissance Technologies now owns 2,4 million shares, worth $11 million.