Nothing much to write about regarding notable insider buys; there wasn’t much of note. But that Doesn’t mean there isn’t great profit making opportunities.
C Level officers, directors and 10% or more shareholders are the insiders that are required to file Form 4 within 48 hours. The quarterly earnings blackout period has prevented some insiders from buying last week but it didn’t prevent insiders at EchoStar, SATS, from unloading over $25 million of their stock now that Elon Musk put a bid on the table for Dish’s wireless spectrum that caused SATS to go from$28 to Friday’s closing price of $74.89, just a mere 166% increase in value.
If you ignore insider buying, well you just missed the biggest stock market gift you’ll likely get in any nine month period. It was only back in December that Charlie Ergen, founder of Dish and wireless spectrum speculator, (now legendary) added $43.5 million shares of SATS on the open market at $28.04 . At the time it was reported he owned holdings of 16,042,800 shares. You might ask yourself as a DIY investor, how do I get in on this? You might ask your financial advisor or hedge fund manager where were you when Charlie loaded up.
Well, you guessed it- they were not paying attention to insider buying.