Insider Buying Week Ending June 14, 2019

Occidental Petroleum insiders say enough is enough, quit trashing our stock by collectively buying over $4 million worth in the open market. Oil stocks are big underperformers but ever since Oxy announced the purchase of Anadarko, the stock has been in free fall.
American Asset Trust insiders buying at new highs and continue to get rewarded at this diversified REIT.
REMAX founder and once barred insider Linder returns with a vengeance scooping up another $2.9 million adding to his buys from last week.
Guess CEO increases his holdings by over 230% buying nearly $5 million worth of stock at $14.32.  Guess is looking like a good candidate to go private. Anyone listening?

Ticker Company Market Cap ($B) Insider Relation Type Shares Price Mkt Val % Chng
AAT American Assets Trust Inc  $2.760 Nelles Duane A Dir Purchase 22,346  $43.30  $967,483 17.3%
AAT American Assets Trust Inc  $2.760 Rady Ernest S Chmn Purchase 558,659  $43.30  $24,187,477 6.2%
RCUS Arcus Biosciences Inc  $0.369 Falberg Kathryn E Dir Purchase 32,065  $8.07  $258,797 32.9%
– Ser A-PREF Athene Holding Ltd  $7.971 Beilinson Marc A Dir Purchase 10,000  $25.00  $250,000 NEW
– Ser A-PREF Athene Holding Ltd  $7.971 Belardi James Richard Chmn Purchase 80,000  $25.00  $2,000,000 NEW
– Ser A-PREF Athene Holding Ltd  $7.971 Kvalheim Grant VP Purchase 40,000  $25.00  $1,000,000 NEW
BECN Beacon Roofing Supply Inc  $2.295 Frost Richard W Dir Purchase 11,754  $34.17  $401,634 52.3%
BH.A Biglari Holdings Inc  $0.349 Biglari Sardar Chmn Purchase 1,739  $618.36  $1,075,323 1.4%
BH Biglari Holdings Inc  $0.349 Biglari Sardar Chmn Purchase 3,088  $109.15  $337,067 0.3%
CHFC Chemical Financial Corp  $2.819 Klaeser Dennis L CFO Purchase 10,018  $39.15  $392,205 20.3%
CHFC Chemical Financial Corp  $2.819 Provost David T CEO Purchase 10,100  $39.19  $395,789 10.7%
CHFC Chemical Financial Corp  $2.819 Torgow Gary Chmn Purchase 10,100  $39.19  $395,789 10.7%
CSCO Cisco Systems Inc  $234.370 Bush Wesley G Dir Purchase 10,000  $55.74  $557,404 331.5%
CNX CNX Resources Corp  $1.423 Lanigan Bernard Jr Dir Purchase 34,200  $7.30  $249,804 7.8%
CNX CNX Resources Corp  $1.423 Lanigan Bernard Jr Dir Purchase 35,400  $7.06  $249,751 7.5%
CLR Continental Resources Inc  $14.126 Hamm Harold Chmn Purchase 38,600  $38.76  $1,496,078 0.0%
CNR Cornerstone Building Brands Inc  $0.595 Metcalf James S Chmn Purchase 100,000  $4.45  $444,580 25.5%
FTK Flotek Industries Inc  $0.214 Nierenberg David Dir Purchase 111,250  $3.60  $400,456 5.5%
FCX Freeport-McMoRan Inc  $15.449 Quirk Kathleen L CFO Purchase 50,000  $10.49  $524,340 5.7%
ENT Global Eagle Entertainment Inc  $0.062 Leddy Jeffrey A Chmn Purchase 400,000  $0.54  $216,000 47.1%
GES Guess? Inc  $1.019 Alberini Carlos E CEO Purchase 347,353  $14.32  $4,974,581 231.6%
HIL Hill International Inc  $0.153 Chadwick James M Dir Purchase 155,693  $2.70  $420,215 9.5%
IIIV i3 Verticals Inc  $0.667 Daily Gregory S Chmn Purchase 84,800  $23.49  $1,991,952 785.5%
ITCI Intra-Cellular Therapies Inc  $0.690 Alafi Christopher D Dir Purchase 170,000  $11.73  $1,993,794 3.2%
XON Intrexon Corp  $1.129 Kirk Randal J Chmn Purchase 805,447  $5.24  $4,223,603 1.6%
IVZ Invesco Ltd  $9.812 Wagoner G Richard Jr Dir Purchase 10,000  $20.71  $207,120 32.6%
JCP JC Penney Co  $0.357 Teruel Javier G Dir Purchase 941,095  $0.99  $929,049 114.4%
JNJ Johnson & Johnson  $373.592 Hewson Marilyn A Dir Purchase 3,000  $139.68  $419,040 NEW
MAC Macerich Co  $4.977 Stephen Andrea M Dir Purchase 20,000  $35.02  $700,300 120.6%
MEC Mayville Engineering Co Inc  $0.296 Kamphuis Robert D Chmn Purchase 34,460  $13.00  $448,139 42.9%
NVRO Nevro Corp  $1.937 Weatherman Elizabeth H Dir Purchase 8,183  $61.22  $500,981 122.1%
OXY Occidental Petroleum Corp  $37.199 Backus Marcia E VP Purchase 10,000  $48.09  $480,900 10.7%
OXY Occidental Petroleum Corp  $37.199 Hollub Vicki A CEO Purchase 37,460  $48.15  $1,803,699 16.3%
OXY Occidental Petroleum Corp  $37.199 Batchelder Eugene L Dir Purchase 9,100  $48.11  $437,790 22.1%
OXY Occidental Petroleum Corp  $37.199 Klesse William R Dir Purchase 10,000  $48.22  $482,200 12.3%
OXY Occidental Petroleum Corp  $37.199 Brown Oscar K VP Purchase 15,000  $48.28  $724,200 14.0%
OXY Occidental Petroleum Corp  $37.199 Vangolen Glenn M VP Purchase 5,000  $48.53  $242,650 5.4%
OCUL Ocular Therapeutix Inc  $0.192 Sawhney Amarpreet Chmn Purchase 124,468  $2.92  $362,911 4.3%
ODT Odonate Therapeutics Inc  $0.657 Tang Kevin C Chmn Purchase 76,308  $27.36  $2,087,459 0.6%
OSPN OneSpan Inc  $0.568 Zenner Marc Dir Purchase 9,155  $13.82  $126,482 183.1%
OSPN OneSpan Inc  $0.568 Zenner Marc Dir Purchase 5,000  $15.00  $75,000 54.6%
PKOH Park-Ohio Holdings Corp  $0.392 Crawford Edward F Pres Purchase 7,581  $30.84  $233,836 0.5%
PBF PBF Energy Inc  $2.864 O’Connor Thomas L VP Purchase 10,000  $24.46  $244,642 7.7%
PRCP Perceptron Inc  $0.043 Bryant John F Dir Purchase 482,991  $4.75  $2,292,034 94.5%
RMAX RE/MAX Holdings Inc  $0.961 Liniger David L Chmn Purchase 140,800  $31.75  $4,470,301 114.6%
RMAX RE/MAX Holdings Inc  $0.961 Liniger David L Chmn Purchase 90,000  $32.34  $2,910,420 34.1%
RMAX RE/MAX Holdings Inc  $0.961 Dow Roger J Dir Purchase 9,100  $32.30  $293,930 53.9%
SSB South State Corp  $2.514 Demere Robert H Jr Dir Purchase 3,000  $68.40  $205,200 3.0%
TTS Tile Shop Holdings Inc  $0.216 Kamin Peter H Dir Purchase 89,414  $3.96  $353,722 3.9%
VNRX Volition RX Ltd  $0.119 Faulkes Martin Charles Dir Purchase 70,731  $3.02  $213,608 4.1%

 

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.

 

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