MCY

Insider Buying Week 05-30-25-Could Harvard University go Public?

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It was a generally positive month, marked by tariff moderations and largely favorable economic news regarding inflation. Trump, possibly feeling the pressure from the family’s market short, delivered a Friday surprise with the statement, “China not playing nice.” On the surface, there appear to be no groundbreaking revelations, but as always, one must delve deeply into the underlying details. There is an unexpected insight today: creativity often emerges when one is cornered. Consider the actions of the Ukrainians this weekend. Be sure to read the opinion on the large KKR purchase by the Chairman of the Board of Harvard. On … Read more

Quiet Insider Buying Shortened Week May 29th 2020

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Jazz Pharmaceutical Director Seamus Mulligan bought 50,000 shares at $111.08. Before investors pile in behind that enforcement, it’s worth considering Mulligan bought 50,000 shares back in 11/15/18 at $144.56. JAZZ had a few analyst downgrades after releasing last quarter’s earnings report. JAZZ is a leader in sleep medicine and has a growing hematology/oncology portfolio. Dynavax Technologies DVAX is a startup biotech.  The priced a 14M share offering at $5 below the last closing price osf $5.66. Director Jack bought 1,000,000 shares at $5. Do you think he knew that DVAX would announce a week letter that Sky would report a … Read more

Mercury General Auto Insurer Chairman Puts the Petal to the Metal

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 Mercury General Chairman George Joseph buys $9.2 Million more of this California property and casualty insurer.  MCY  with a current 6.4% dividend yield and a 34 year history of consecutive dividend raises, looks particularly tempting.  It’s off 44% from its high and the Chairman of the Board has bought $24 million worth of the company’s stock in the last 10 days. People are driving less, auto claims are down. The potential loss of reinvestment income due to lower bond rates seems overstated by this drop in price. Besides Mercury has been historically a  relatively bigger player in the equity markets, … Read more

Insider Buying Picks Up- Week Ending 5-15-20

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Insider buying picked up this week across several depressed sectors like insurance,  small regional banks,  gaming, furniture, REITS, building products, restaurants and retailers, automotive and motorcycle and utility stocks. The buy of the week is property and casualty California auto insurer, Mercury General MCY.  Chairman of the Board George Joseph continued accumulating stock with $15 million of stock purchases at an average price of $35.95. MCY is down from it’s high this year of $52.  MCY yields 6.65%. People are driving less and insurance claim losses are down  as a result of that. Offsetting this, reinvestment rates on bond portfolios … Read more