While You're Busy Selling, Insiders Are Buying Like Crazy
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Price: $56.06 -0.48%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.7%
EPS Growth %: -44.7%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.7%
EPS Growth %: -44.7%
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While funds and retail investors are aggressively selling stocks at any price, company insiders are buying like mad.
Illustrating our point, so far Monday, there have been 47 insider buys disclosed by company CEOs/CFOs/COOs. This compares to just 7 on July 22nd, the session before the current sell-off started in earnest.
The data suggests these insiders see major value in their company stocks at current levels and are looking to put their personal money to work to buy on the cheap.
Here are some notable insider buys from Monday:
So remember, insiders buy for one reason - to make money. They could be early with their buys, but over the short-to-medium term they should prove correct. Insider buying right now is surging and momentum is growing. This data should be highlighted in conjunction with all the negativity in the market.
Illustrating our point, so far Monday, there have been 47 insider buys disclosed by company CEOs/CFOs/COOs. This compares to just 7 on July 22nd, the session before the current sell-off started in earnest.
The data suggests these insiders see major value in their company stocks at current levels and are looking to put their personal money to work to buy on the cheap.
Here are some notable insider buys from Monday:
- KB Home (NYSE: KBH) CEO Jeffrey T. Mezger bought 16,000 shares at $6.32, bringing his stake to 376,393 shares.
- Winthrop Realty Trust (NYSE: FUR) CEO Michael L. Ashner bought 65,000 shares at $9.07, bringing his stake to 3,407,950 shares.
- MF Global Holdings Ltd. (NYSE: MF) CEO Jon Corzine disclosed the purchase of another 17,270 shares at $5.71. Earlier he disclosed the purchase of 16,690 shares, also made this morning. This brings his total bought today to 33,960 shares.
- Celgene Corporation (Nasdaq: CELG) CEO Robert Hugin bought 10,000 shares on 8/8 at $52.70, bringing his stake to 429,252 shares.
- CNA Financial Corporation (NYSE: CNA) CEO Thomas Motamed bought 40,000 shares on 8/5 at $24.26, bringing his stake to 410,735 shares.
- RAIT Financial Trust (NYSE: RAS) CEO Scott Schaeffer buys 25,000 shares on 8/8 at $3.38, bringing his stake to 170,953 shares.
- Knight Capital Group Inc. (NYSE: KCG) CEO Thomas Joyce buys 10,000 shares on 8/8 at $11.18, bringing his stake to 450,382 shares.
- Charter Communications, Inc. (NASDAQ: CHTR) CFO Christopher L. Winfrey bought 25,000 shares on 8/5 at $46.02, bringing his stake to 135,000.
- Headwaters Inc. (NYSE: HW) CEO Kirk Benson bought 45,000 shares from 8/5-8/4 at prices from $2.16-$2.17. The purchase brings his stake to 823,643 shares.
- WMS Industries Inc. (NYSE: WMS) CEO Brian Gamache bought 55,200 shares on 8/8 at $18.12, bringing his stake to 228,802 shares.
So remember, insiders buy for one reason - to make money. They could be early with their buys, but over the short-to-medium term they should prove correct. Insider buying right now is surging and momentum is growing. This data should be highlighted in conjunction with all the negativity in the market.
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