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Airplanes, Eyesight and Oil

With significant buys across so many industries, there is no shortage of insiders to watch.

Here is what caught our eye.

$DDR, $MHK, $AMH, $PMI, $IFF, $TEVA, $EYES, $AAT, $XRAY, $UAL, $EXTR, $FLNT, $HBI, $HII, $HGV

In this report, we examine stocks that C-level officers and directors bought and sold ending the week of May 18, 2018.

Insiders sell stock for many reasons, but they generally buy for just one – to make money. As a standard, we only look at material amounts of money, $100 thousand or more, as anything less could just be window dressing.

The bar is different with selling, because the natural state of management is to be sellers. This is because most companies provide significant amounts of management compensation packages as stock. Therefore, with selling, we analyze for unusual patterns, such as insiders selling 25 percent or more of their holdings or multiple insiders selling near 52 week lows.

To learn more about our strategy, visit The Insiders Fund. We welcome your comments on our analysis.

Note: We may own positions, long or short, in any of these names but do not disclose that information nor give those positions extra emphasis in our reports.

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This Week’s Buys

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DDR (DDR)

[/vc_custom_heading][vc_single_image media=”18216″ media_width_percent=”100″][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Director Otto, after buying $19.2 million, is at it again swooping in to buy $38.3 million in the shopping center, REIT, at an average price fo $7.35. DDR now yields 10.48%.

Is that enough to compensate investors for the increased risk to the space do to online commerce? Not sure, but we have added a small amount to the portfolio.

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Mohawk (MHK)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Director Filip Balcaen buys a massive $31.4 million of this beat up carpet company.

About Mohawk: Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

American Homes For Rent (AMH)

[/vc_custom_heading][vc_single_image media=”18218″ media_width_percent=”100″ media_link=”url:https%3A%2F%2Fwww.cnbc.com%2F2018%2F03%2F28%2Fmillennials-spend-97000-on-rent-before-turning-30.html|||”][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Insiders Wayne Hughes & Tamara Gustavson respectively bought $5.4 million and $10 million worth of AMH.

This company has been buying up single family homes for rental use since 2008. These two and others like them are probably responsible for the lack of reasonably priced starter homes for millennials. It pays a measly 1.02% yield. We also find the business model reprehensible and we have no participation.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Phillip Morris International (PMI)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Director L buys $3.3 million at $81.30 while Director Geissler buys $4.0 million at $81.44.

PMI is trading at a multi year low and yields a whopping 5.3%.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

International Flavors and Fragrances (IFF)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Two insiders bought $171.2 million of the beaten down IFF, while Director Botolli bought 920 at $128.25.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Teva Pharmaceutical Industries, LTD (TEVA)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Director Mignone buys $750 thousand at $19.24.

It was also noted in the 13F that Berkshire Hathaway’s Warren Buffett was also a buyer.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Second Sight Medical Products (EYES)

[/vc_custom_heading][vc_single_image media=”18220″ media_width_percent=”100″ border=”yes”][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Director and 10% owner continues buying with $10 million at $1.48.

I think this is worth looking into.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

American Assets Trust (AAT)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Chairman, CEO & President Rady buys $5.6 million of this diversified REIT yielding 3.17%.

It’s hard to get excited about a REIT yielding this low in a rising interest rate environment yet Rady continues to buy.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Denstply Sirona (XRAY)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: CFO Alexos continues to show confidence buys 50 thousand more at $44.71.

That’s a positive development although the same share count indicates it might be more than just opportunistic. As far as I can tell, though, this was an open market purchase and not part of an ESOP.

Meanwhile, new CEO, Casey, took advantage of the X RAY 3 yr low in price and purchased $2.2 million at $44.71.

The bears have owned this stock since our initial purchase. We continue to hold a position here.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

United Continental Holdings (UAL)

[/vc_custom_heading][vc_single_image media=”18226″ media_width_percent=”100″][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Board member Shapiro buys another 50 thousand shares of UAL at an average price of $65.86.

UAL looks cheap but rising oil prices threaten to hurt margins unless they can raise fares in a very competitive market place.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Extreme Networks (EXTR)

[/vc_custom_heading][vc_single_image media=”18230″ media_width_percent=”100″][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Extreme Networks tumbled after an earnings miss and four insiders took advantage of the stock discount to purchase a combined $1.3 million of stock. Director Kenney bought the most with 100 thousand shares at $8.82.

We are a buyer of EXTR.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Fluent Inc (FLNT)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Four insiders bought a combined $371.3 thousand of stock, with the largest purchase by President Conlin at $125 thousand.

Cogint announced on April 12 that it will change its name to Fluent with the culmination of recent strategic changes at the company, including the spin off of Red Violet (ROVT). Barrington initiated it with an outperform and a target of $4.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Hanesbrands, Inc. (HBI)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Three insiders bought a combined $1.2 million with the largest purchase by Director Singer at $553.5 thousand.

On May 1, B.Riley, FBR analyst, said HBI had a solid beat for Q1 and that the free cash flow is intact. That analyst views the valuation as attractive and recommends buying HBI aggressively with a $30 target. We are putting this on our radar but with $4 billion in debt, we are hesitant to call this a screaming buy.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Huntington Ingalls Industries (HII)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Three insiders bought $635 thousand worth of the ship builder stock, taking advantage of a small drop in price.

This is remarkable considering HII is up 500% since 2012. I supposed lots of money going into revitalizing the Navy is fueling the animal spirits.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Hilton Grand Vacations (HGV)

[/vc_custom_heading][vc_single_image media=”18223″ media_width_percent=”100″][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Chairman Potter took advantage of the HGV stock drop to purchase $1 million worth of stock, tripling the size of his holdings.

We bought some of this.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][vc_custom_heading]

This Week’s Sells

Virtu Financial (VIRT)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Insiders have gone from buyers to sellers, unloading $182.8 million of this brokerage and investment company.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Blueprint Medicines Corp (BPMC)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Director Alexis, nominee of Third Point Ventures, unloaded $124.5 million of stock which reduced his holdings by 62.8%.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Garmin (GRMN)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Chairman Kao sold $132 million of Garmin.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

Pioneer Natural Resources (PXD)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Insiders have gone from buyers to sellers of this lead fracking company. Seven insiders sold $13.4 million of stock but this may just be opportunistic, taking advantage of the rise in the price of crude.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column column_width_percent=”100″ overlay_alpha=”50″ gutter_size=”1″ medium_width=”0″ mobile_width=”0″ shift_x=”0″ shift_y=”0″ z_index=”0″ width=”1/1″][vc_custom_heading]

CarGurus (CARG)

[/vc_custom_heading][vc_empty_space empty_h=”0″][vc_column_text]The Inside Trade: Seven insiders have planned sales of CarGurus too the tune of $10.3 million.[/vc_column_text][/vc_column][/vc_row]

Notable Insider Buying &| Week Ending 5-18-18