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Insider Buying Week Ending June 7, 2019

American Airline insiders buy stock in beaten down airline lifting price action. Waiting on large payback from Boeing 737 Max grounding.  American is incredibly cheap will have significant free cash flow.and will be a direct beneficiary of increased trade with Mexico as it flies more routes than any other airline.

John Idol, Chairman of the Board and CEO of Capri Holdings goes all in fashion conglomerate holding company with luxury iconic brands, Versace, Jimmy Choo, and Michael Koors.

RE/MAX Holdings disclosed that its co-founder and chairman David Liniger bought a total of 122.9K shares of common stock on June 3rd, 4th, and 5th.

Symbol Company Market Cap ($B) Insider Relation Type Shares Price Mkt Val % Chng
AAL American Airlines Group Inc  $13.514 Isom Robert D Jr Pres Purchase 15,000  $27.75  $416,250 2.0%
AAL American Airlines Group Inc  $13.514 Parker W Douglas Chmn Purchase 50,000  $28.09  $1,404,285 2.3%
AAL American Airlines Group Inc  $13.514 Cahill John T Dir Purchase 25,000  $28.60  $714,973 34.7%
AINC Ashford Inc  $0.100 Hays J Robison III Officer/Dir Purchase 5,000  $43.42  $217,100 50.0%
BH Biglari Holdings Inc  $0.352 Biglari Sardar Chmn Purchase 13,930  $102.88  $1,433,185 1.2%
BH.A Biglari Holdings Inc  $0.352 Biglari Sardar Chmn Purchase 1,339  $574.66  $769,471 1.1%
CNR Cornerstone Building Brands Inc  $0.555 Buckley John L Officer Purchase 50,000  $4.42  $221,025 52.6%
CNR Cornerstone Building Brands Inc  $0.555 Janki Daniel C Dir Purchase 50,000  $4.60  $230,000 NEW
CONN Conn’s Inc  $0.545 Miller Norman Chmn Purchase 11,765  $17.03  $200,358 3.1%
CONN Conn’s Inc  $0.545 Martin Bob L Dir Purchase 26,600  $17.04  $453,184 29.4%
COWN Cowen Inc  $0.472 Barth Brett H Dir Purchase 20,000  $15.29  $305,780 73.2%
CPRI Capri Holdings Ltd  $5.123 Idol John D Chmn Purchase 615,000  $32.57  $20,030,304 29.8%
CPRI Capri Holdings Ltd  $5.123 Edwards Thomas J Jr COO Purchase 11,600  $34.41  $399,212 49.9%
CTDH CTD Holdings Inc  $0.036 Shanahan William S Dir Purchase 800,000  $0.25  $360,000 61.3%
CUTR Cutera Inc  $0.243 Plants J Daniel Dir Purchase 28,166  $16.73  $471,135 9.3%
ECA Encana Corp  $7.415 Waterman Bruce Gordon Dir Purchase 50,000  $5.06  $253,000 25.0%
ENB Enbridge Inc  $71.858 Monaco Albert CEO Purchase 7,848  $37.19  $291,848 1.0%
EOLS Evolus Inc  $0.459 Malik Vikram Chmn Purchase 1,298,701  $19.25  $24,999,994 NEW
FCX Freeport-McMoRan Inc  $14.782 Adkerson Richard C CEO Purchase 172,000  $10.14  $1,744,080 5.7%
FTK Flotek Industries Inc  $0.199 Nierenberg David Dir Purchase 101,250  $3.12  $316,224 5.8%
FTK Flotek Industries Inc  $0.199 Nierenberg David Dir Purchase 187,500  $3.44  $645,619 10.2%
GALT Galectin Therapeutics Inc  $0.176 Uihlein Richard E Chmn Purchase 4,680,606  $4.28  $20,032,994 148.7%
IMMU Immunomedics Inc  $2.399 Aghazadeh Behzad Chmn Purchase 1,535,539  $12.21  $18,743,250 8.3%
IO ION Geophysical Corp  $0.113 Lapeyre James M Jr Chmn Purchase 60,000  $6.79  $407,436 4.6%
MLNX Mellanox Technologies Ltd  $6.059 Sanghi Steve Dir Purchase 20,000  $110.54  $2,210,884 336.1%
ODT Odonate Therapeutics Inc  $0.745 Tang Kevin C Chmn Purchase 93,692  $24.92  $2,335,217 0.7%
OPK Opko Health Inc  $1.188 Frost Phillip Chmn Purchase 150,000  $1.92  $288,195 0.1%
PACK Ranpak Holdings Corp  $0.384 Asali Omar Chmn Purchase 2,077,504  $10.00  $20,775,040 64.2%
PCB Pacific City Financial Corp  $0.274 Rhee Don Dir Purchase 17,544  $17.02  $298,578 5.6%
PSEC Prospect Capital Corp  $2.389 Barry John F III Chmn Purchase 63,496  $6.29  $399,631 0.2%
PSEC Prospect Capital Corp  $2.389 Barry John F III Chmn Purchase 107,358  $6.34  $680,575 0.3%
PSXP Phillips 66 Partners LP  $6.157 Mitchell Kevin J CFO Purchase 7,349  $48.50  $356,409 277.2%
PTE PolarityTE Inc  $0.137 Seaburg David B Officer/Dir Purchase 35,000  $5.93  $207,550 53.8%
RCUS Arcus Biosciences Inc  $0.359 Rosen Terry J CEO Purchase 41,540  $7.91  $328,573 1.0%
REV Revlon Inc  $1.237 Perelman Ronald O Chmn Purchase 140,000  $21.34  $2,987,558 0.3%
REV Revlon Inc  $1.237 Perelman Ronald O Chmn Purchase 50,000  $23.32  $1,165,995 0.1%
RMAX RE/MAX Holdings Inc  $0.947 Liniger David L Chmn Purchase 122,911  $30.33  $3,728,444 NEW
SR.A Spire Inc  $4.326 Glotzbach Edward L Dir Purchase 8,000  $26.00  $208,000 NEW
TEVA Teva Pharmaceutical Industries Ltd  $10.868 Barer Sol J Chmn Purchase 111,000  $8.98  $997,013 2,246.1%
TEVA Teva Pharmaceutical Industries Ltd  $10.868 Barer Sol J Chmn Purchase 104,500  $9.60  $1,003,409 90.1%
TOCA Tocagen Inc  $0.115 Hasnain Faheem Chmn Purchase 43,000  $4.66  $200,316 21.2%
TTS Tile Shop Holdings Inc  $0.197 Kamin Peter H Dir Purchase 105,504  $4.18  $441,028 4.8%
VRTU Virtusa Corp  $1.307 Doody Joseph G Dir Purchase 5,000  $42.50  $212,500 51.6%
WWW Wolverine World Wide Inc  $2.513 Boromisa Jeffrey M Dir Purchase 10,000  $27.92  $279,200 20.6%
XON Intrexon Corp  $0.858 Kirk Randal J Chmn Purchase 338,869  $4.91  $1,663,779 0.7%

Insiders sell stock for many reasons, but they generally buy for just one – to make money. THE INSIDERS FUND invests 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.  This is as close to “insider information” that an ordinary investor is likely to see- and it’s entirely legal.

As a rule, 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. To learn more about our strategy, visit our website. We may own positions, long or short, in any of these names and are under no obligation to disclose that. We welcome your comments on our analysis.

 

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

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