Insider trading

Insider Buying Week Ending April 9th- Market making new highs without help from insiders

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For trade details click on this link to the trades % Trade Date Company Ticker Change Applied Molecular Transport Inc. AMTI 16.50% DELCATH SYSTEMS Inc DCTH 7.07% JOANN Inc. JOAN 4.49% REPUBLIC SERVICES Inc RSG 4.13% Howard Hughes Corp HHC 2.85% Science Applications International Corp SAIC 1.04% TCW STRATEGIC INCOME FUND INC TSI 0.07% TCW STRATEGIC INCOME FUND INC TSI 0.05% GREIF INC GEF -1.45% There was very little insider buying of note this last week.  If you rule out the almost daily offerings of new  SPACS which are for the most part future mediocre to poor investments by self-dealing … Read more

Insider Buys Week of April 2nd 2021

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For trade details click on this link to the trades Company Ticker GTY Technology Holdings Inc. GTYH You Harry L. Director 10% Owner 61.83% Designer Brands Inc. DBI SCHOTTENSTEIN JAY L Chairman 10% Owner 21.37% Designer Brands Inc. DBI Schottenstein Joseph A. Director 20.34% Green Brick Partners Inc. GRBK Brandler Harry Director 12.61% RHYTHM PHARMACEUTICALS Inc RYTM Meeker David P CEO 10.26% CASI Pharmaceuticals Inc. CASI He Wei-Wu CEO Chairman 9.76% APARTMENT INVESTMENT & MANAGEMENT CO AIV CONSIDINE TERRY Director 9.71% Epizyme Inc. EPZM MOTT DAVID M Director 8.23% REV Group Inc. REVG Rushing Rodney M CEO 6.95% RENT A … Read more

Amyris- what the heck? $AMRS Notable Insider Buys Week 2-7-20

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  Simply Good Foods’s SMPL Director Brian Ratzan bought 10,000 shares at $22.98.  The newly capitalized Atkins brands has found what seems to be permanent shelf space in grocery stores and drug store chains.  Insiders have had a steady diet of SMPL shares, the largest being the Chairman of the Board’s purchase of $1.7 million at back in November 2019 at $24.62 .  Atkins bars might be causing me indigestion, I had a followed his lead. The stock is down 17% on concerns over missing consensus growth expectations According to Fly on the Wall –“Goldman Sachs analyst Jason English added … Read more

SEC Discloses Edgar Corporate Filing System Was Hacked in 2016 – WSJ

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SEC Discloses Edgar Corporate Filing System Was Hacked in 2016 Breach may have allowed trading that profited from nonpublic information, regulator says Source: SEC Discloses Edgar Corporate Filing System Was Hacked in 2016 – WSJ It’s no surprise that hackers would covet this information but you don’t have to steal it. The SEC mandates that officers, directors, and 10% shareholders file a Form 4 detailing their buying and selling of their companies’ securities within 48 hours of the date of the transaction. The SEC makes this info immediately available to the public. This is as close to “inside information” as … Read more

Fresh Off an Insider Trading Charge, Did Einhorn Sandbag Green Mountain?

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Up 21% after hours yesterday and finishing today almost 24% from yesterday’s close, it certainly seems that Green Mountain Coffee Rosters isn’t the dark and gloomy picture that David Einhorn painted in his 110 slide presentation released on October 17th of last year (presentation here).  To his credit, he makes some strong points as to GMCRs difficulties with free cash flow.  However, with several important patents on the K-cup design expiring this year, the company is defensively spending money to acquire competitors and protect the market share.  This is in conjunction with large scale research and design efforts to roll … Read more

SEC, Rajat Gupta Drop Their Cases, for Now

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NEW YORK—The Securities and Exchange Commission dropped its civil administrative proceeding against former Goldman Sachs Group Inc. director Rajat Gupta, but left the door open to pursue insider-trading charges against him in a civil lawsuit. The agency “is fully committed to the case and will proceed as appropriate,” a spokesman said Thursday. Specifically, the agency said that “it is in the public interest” to dismiss the administrative case but that “dismissing these proceedings will not prevent the Commission from filing an action against Mr. Gupta in United States District Court.” The SEC brought the administrative case against Mr. Gupta in … Read more

Where are the insiders?

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There is always a blackout period before earnings when insiders are forbidden to buy or sell their own stock.  Usually this is a 45 day period before earnings and 24-48 hours afterwards.  The idea is that by the end of the quarter insiders have a good idea of what their companies are going to earn and to avoid trading on this knowledge most companies impose a black-out period in which insiders are forbidden to trade the companies’ stock. The exact days and trading windows differ slightly from company to company as they are based on an interpretation of SEC rules. The last two … Read more

‘s erratic market behavior?

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I believe this was part of the downdraft and erratic market behavior in May.  Combined with the cram down offering of AIG, let to a rough patch.  Oil  rising predictably shook some consumer confidence and crimped discretionary spending.  But all of this was known.  The unknown was the larger seller sitting on the market at the close of the day each week.  SAC investors begin to eye the door.  An article by Katie Benner from Fortune is the first thing I have seen written about what I have talked privately about. By Katie Benner May 31, 2011: 7:37 AM ET The government investigation of Steve Cohen’s firm … Read more

‘s easy to figure out who is making money in this crappy economy

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  Just look at the SEC filings.  Insiders are unloading stocks at staggering quantities.  But selling is the nature of the casino market and insiders always sell stock, at least the smart ones.   But some selling is more portending than others.  Here’s my reading of the tea leaves and as usual any actionable trading ideas I can glean from it.   Southern Company SO Southern Company made a lifetime high on 5-19 at $40.87.  According to the Washington Service  “At Southern Co. (SO), the stock reached a 52-week high on 5/19/11, and  has slipped only slightly since that high. Ten … Read more

‘m selling out soon

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This is a checklist I use to quickly come to a conclusion on a stock.  I score a stock, each line getting a 1, 0, or -1.  A stock  that scored 1 on each line would be a perfect 10.  Buy it! Some of these items are quite subjective.  For example how would I score Cash Flow?  If a company’s cash flow is much lower than it’s reported earnings, that raises a flag and I would score it a -1.  If there are more insiders buying than selling, I would score it a 1.  If there are no apparent catalysts … Read more

Wells Fargo- How to Rob the Bank

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I originally alerted readers of the Sax Angle to a profitable trading opportunity on Wells Fargo stock.  See Two new insider buys today piqued my interest for the details of that post.  Since then we have nearly doubled our money on two options we purchased, the June 30 calls and the May 30 calls.  Both options looked cheap and after today’s move in Wells Fargo, they look even cheaper.  What we mean by that although the options are nearly twice the price, the chart of Wells Fargo is far more bullish than it was when we first invested.  Needless to say, we did not sell and actually are buying more.  We first noticed Wells Fargo after the new CFO picked up 10,000 shares following its recent earnings report.  When we bought it the stock was oversold and the technical picture hadn’t set up so well.  It now looks much stronger.

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NLC shows a good setup at 27

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Remember the company that supplied all the dispersant from the Gulf oil spill.  Well Nalco, NLC is an interesting company that has been on a bull run.  It pulled back after this quarter’s earnings.  Insiders must think the future is rosy as two of them stepped up with significant buys.  Take a look at the chart.  Insider buying and bullish RSI divergence in price action suggests this stock is about to turn up.

If you had any doubts how actionable and good these ideas are, look at our last post on Dell and Visa

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We don’t like people gloating but we do like to help people make money.  We wrote about both Dell and Visa as our largest year end positions.  Both have done very well for our investors.  We are mostly out of Visa now but continue to hold Dell.  We will buy Visa back though on any pullback.  Dell is so grossly undervalued as to be ludicrous.