U.S. Stocks Have Now Fallen For 5 Weeks In A Row – That Is The Worst Stock Market Streak In Almost 8 Years

but a Few Insiders Find Bargains

Insider Buying Week Ending 5-23-19

Investor confidence is waning.  The Summer doldrums are here. I even heard the head of Interactive Brokers say on CNBC that he didn’t think the market was a good place to invest in so many words. And that’s from someone who makes a living touting stocks.  U.S. Stocks Have Now Fallen For 5 Weeks In A Row – That Is The Worst Stock Market Streak In Almost 8 Years but some insiders still find bargains. In this report, we highlight open market purchases from employees and directors of more than $200,000.

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, $200 thousand or more, as anything less could just be window dressing. The bar is different from 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. Another red flag is large planned sale programs that start without warning. We generally ignore 10 percent 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 of the vast realms of data.

Ticker Company Market Cap ($B) Insider Relation Type Mkt Val Shares Price Shares Ending % Chng
ARR ARMOUR Residential REIT Inc  $1.079 Zimmer Jeffrey J CEO Purchase  $1,434,600 80,000  $17.93 80,000 215,948 58.8%
BG Bunge Ltd  $7.275 Zachman Brian Officer Purchase  $512,777 10,000  $51.28 10,000 24,611 68.4%
BG Bunge Ltd  $7.275 Winship Henry Ward IV Dir Purchase  $205,600 4,000  $51.40 4,000 6,086 191.8%
BMY Bristol-Myers Squibb Co  $77.369 Samuels Theodore R II Dir Purchase  $236,440 5,000  $47.29 5,000 27,000 22.7%
CALX Calix Inc  $0.346 Plants J Daniel Dir Purchase  $207,879 31,617  $6.57 31,617 1,363,457 2.4%
CALX Calix Inc  $0.346 Denuccio Kevin A Dir Purchase  $221,807 33,500  $6.62 33,500 279,303 13.6%
CLR Continental Resources Inc  $14.548 Hamm Harold Chmn Purchase  $3,972,170 93,000  $42.71 93,000 286,664,017 0.0%
CTL CenturyLink Inc  $10.532 Storey Jeffrey K CEO Purchase  $491,480 50,000  $9.83 50,000 3,245,655 1.6%
CTSH Cognizant Technology Solutions Corp  $34.771 Humphries Brian CEO Purchase  $1,160,742 19,000  $61.09 19,000 19,000 NEW
CYH Community Health Systems Inc  $0.378 Ely James S III Dir Purchase  $320,000 100,000  $3.20 100,000 191,310 109.5%
DISH DISH Network Corp  $16.073 Ortolf Tom A Dir Purchase  $348,700 10,000  $34.87 10,000 70,200 16.6%
EPC Edgewell Personal Care Co  $1.715 Little Rod R CEO Purchase  $297,600 9,300  $32.00 9,300 14,575 176.3%
EVC Entravision Communications Corp  $0.272 Vasquez Gilbert R Dir Purchase  $307,000 100,000  $3.07 100,000 415,169 31.7%
EYEN Eyenovia Inc  $0.061 Mario Ernest Dir Purchase  $900,000 90,000  $10.00 90,000 236,770 61.3%
GVP GSE Systems Inc  $0.045 Loudermilk Kyle Justin CEO Purchase  $230,000 100,000  $2.30 100,000 495,462 25.3%
HBAN Huntington Bancshares Inc  $13.939 Steinour Stephen D Chmn Purchase  $240,019 18,000  $13.33 18,000 5,734,131 0.3%
HIL Hill International Inc  $0.137 Chadwick James M Dir Purchase  $215,188 83,966  $2.56 83,966 1,508,558 5.9%
IIVI II-VI Inc  $2.020 Sadasivam Shaker Dir Purchase  $493,496 14,250  $34.63 14,250 21,834 187.9%
KYN Kayne Anderson MLP/Midstream Investment Co  $1.748 Baker James C Pres Purchase  $633,200 40,000  $15.83 40,000 278,437 16.8%
M Macy’s Inc  $6.570 Blake Francis S Dir Purchase  $216,264 10,000  $21.63 10,000 10,000 NEW
MMM 3M Company  $95.611 Dillon David B Dir Purchase  $203,400 1,200  $169.50 1,200 5,348 28.9%
MTSI MACOM Technology Solutions Holdings Inc  $0.903 Ocampo John L Chmn Purchase  $1,329,600 100,000  $13.30 100,000 19,815,771 0.5%
NLY Annaly Capital Management Inc  $13.484 Hamilton Thomas Edward Dir Purchase  $852,291 90,000  $9.47 90,000 340,000 36.0%
NVR NVR Inc  $11.543 Jung Alexandra A Dir Purchase  $229,950 70  $3,285.00 70 95 280.0%
OSTK Overstock.com Inc  $0.370 Tabacco Joseph J Jr Dir Purchase  $418,052 40,000  $10.45 40,000 96,033 71.4%
PBFX PBF Logistics LP  $1.261 Davis Karen Berriman Dir Purchase  $201,730 10,000  $20.17 10,000 16,232 160.5%
PLXP PLx Pharma Inc  $0.045 Valentino Michael J Chmn Purchase  $248,662 44,404  $5.60 44,404 196,790 29.1%
REPH Recro Pharma Inc  $0.205 Ajdler Arnaud Dir Purchase  $360,000 40,000  $9.00 40,000 1,112,501 3.7%
RESI Front Yard Residential Corp  $0.620 Dobbs Rochelle R Dir Purchase  $271,700 25,000  $10.87 25,000 38,642 183.3%
SHW Sherwin-Williams Co  $39.749 Fettig Jeff M Dir Purchase  $216,035 500  $432.07 500 872 134.4%
SPKE Spark Energy Inc  $0.373 Maxwell W Keith III Chmn Purchase  $316,606 30,010  $10.55 30,010 2,410,694 1.3%
SRT StarTek Inc  $0.318 Sharda Mukesh Dir Purchase  $2,049,999 274,064  $7.48 274,064 274,064 NEW
TH Target Hospitality Corp  $1.118 Archer James B Chmn Purchase  $300,720 28,000  $10.74 28,000 1,002,528 2.9%
TISI Team Inc  $0.442 Martin Craig L Dir Purchase  $303,954 20,000  $15.20 20,000 29,585 208.7%
TRSXL TriState Capital Holdings Inc  $0.601 Casey Helen H Dir Purchase  $500,000 20,000  $25.00 20,000 20,000 NEW
UIHC United Insurance Holdings Corp  $0.607 Poitevint Alec II Dir Purchase  $343,250 25,000  $13.73 25,000 1,065,973 2.4%
VERI Veritone Inc  $0.178 Steelberg Ryan Pres Purchase  $249,083 30,376  $8.20 30,376 4,222,323 0.7%
WAB Wabtec Corp  $11.919 Neupaver Albert J Chmn Purchase  $652,600 10,000  $65.26 10,000 668,418 1.5%
WAB Wabtec Corp  $11.919 Kassling William E Dir Purchase  $503,520 8,000  $62.94 8,000 1,099,664 0.7%
WETF WisdomTree Investments Inc  $0.963 Steinberg Jonathan L CEO Purchase  $496,253 79,365  $6.25 79,365 8,005,270 1.0%
WMB Williams Companies Inc  $32.729 Chazen Stephen I Dir Purchase  $273,275 10,000  $27.33 10,000 45,730 28.0%
WTRH Waitr Holdings Inc  $0.561 Meaux Christopher Chmn Purchase  $999,999 135,135  $7.40 135,135 4,947,179 2.8%
WTRH Waitr Holdings Inc  $0.561 Stream William Gray Dir Purchase  $1,008,182 141,400  $7.13 141,400 1,446,956 10.8%
XRAY Dentsply Sirona Inc  $12.574 Lucier Gregory T Dir Purchase  $536,047 10,000  $53.60 10,000 10,000 NEW

 

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THE INSIDERS FUND is a long-short equity fund. We invest in companies at or near prices that management has been willing to invest significant amounts of their own money in. After all, who knows a business better than the people running it?  You’ve always heard the best information is “inside information”. The SEC mandates that officers, directors and 10% shareholders file a Form 4 detailing buying and selling in their company’s stock within 48 hours. The SEC makes this info public immediately upon receiving it. This is as close to “insider information” that an ordinary investor is likely to see.  We may own positions, long or short, in any of these names and are under no obligation to disclose that.

If you would like to hear more about how you can get involved with the Insiders Fund, please schedule some time on my calendar.