In this report we examine stocks that C-level officers and directors bought and sold ending the week of September 22nd, 2017. Insiders sell stock for a variety of reasons but they generally buy for just one, to make money. We only look at material amounts of money, $100k or more, as anything less could be window dressing. The bar is different on selling as the natural state of management is to be sellers. Most companies provide significant amounts of their compensation packages as stock. Therefore we analyze selling for unusual patterns; such as insider selling 25% or more of their holdings or multiple insiders selling near 52 wk. lows. Another red flag is large planned sale programs that just start out of the blue. We generally ignore 10% shareholders as they tend to be OPM (other people’s money) and not the SMART money we are trying to go to school on. Although this info is available for free from the SEC’s Web site , Edgar, we subscribe to the Washington Service as they provide a way to manage and make sense from the realms of data. To learn more about our strategy visit our website at The Insiders Fund. We welcome your comments on our analysis. We may own positions long or short in any of these names and are under no obligation to disclose that-So do your own research.
Buying
Bristol Myers BMY It is good to see our old friend, Director Samuels buying more BMY. Samuels bought $249.2k at $62.30. This brings his total purchases this year to $1.266 million. BMY was a big winner for us and have been looking for the catalyst to buy more of it. We have written extensively about BMY in our shareholder letters and blog.
Nobel Energy NBL Chairman of the Board David Stover bought 19,000 shares at $26.31. This is the first insider purchase of more than $100k in the company’s history.
Platform Specialty Products PAH Director Franklin bought 500,000 shares at $9.66 for a total of $4.8 million.
Prospect Capital PSEC Chairman Barry keeps buying with 368,756 shares at $6.82 each. I am starting to believe.
Ramco-Gershenson RPT CEO Gershenson buys 25,000 shares at $14.58 for a purchase price of $384.5k
Taubman Centers TCO Dir Marakovits bought 4000 shares at $63.35. I guess he didn’t get the memo that shopping in the real world is dead.