Insider Transactions on 2/24/2017
By Frederic Marsanne
Published on February 25, 2017
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(Cambridge, MA) — You may recall that an officer, director or owner of 10% or more of a class of a company’s securities must report any trade to the Securities and Exchange Commission within two business days. Large equity purchases (resp. sales) by several insiders are considered bullish (resp., bearish). While a secondary indicator (earnings, earnings, where are you?), insider transactions signal that insiders at public companies (well, some of them anyway) believe now is not a bad time to accumulate or liquidate shares. Maybe they see something coming…
Last Friday (2/24/2017) large insider purchases (i.e., around or above $500k) occurred at:
- Icahn Enterprises LP (IEP) ($136.9m, Carl Icahn)
- Arconic Inc (ARNC) ($20.5m, Elliott Associates, L.p.)
- Blackrock 2022 Global Income Opportunity Trust (BGIO) ($2m, 1 insider)
- Evoke Pharma Inc (EVOK) ($1.3m, 1 director)
- Avon Products, Inc. (AVP) ($650k, 1 insider = EVP/COO)
Earlier in the week, major insider purchases occurred at GNC Holdings Inc (GNC), Aeglea Bio Therapeutics Inc (AGLE), and NuStar Energy L.P. (NS, NSH).
Insider sales (greater than $5 million) on 2/24/17 originated from a wide range of industries, and occurred at:
- Apple Inc. ($29.5m, 1 insider = Al Gore)
- Whirlpool Corporation (WHR) ($21.7m, 1 insider = COB/CEO)
- Interpublic Group of Companies Inc (IPG) ($15m, 3 insiders incl. COB/CEO)
- Cisco Systems, Inc. (CSCO) ($12m, 4 insiders incl. Ex COB and EVP, Sales)
- Rockwell Automation (ROK) ($7.6m, 1 insider)
- Zillow Group, Inc. (Z, ZG) ($7.1m, 1 insider = CEO)
- Republic Services, Inc. (RSG) ($6.9m, 1 insider = P/CEO)
Earlier in the week, major insider purchases occurred at TransUnion (TRU) (multiple key executive sales), Aon plc Class A Ordinary Shares (UK) (multiple key executive sales), Brink’s Company (BCO), Facebook (FB) (multiple key executive sales), Southwest Airlines Co (LUV), O’Reilly Automotive Inc (ORLY), PRA Health Sciences Inc (PRAH), Broadcom Ltd (AVGO), Arista Networks Inc (ANET), Humana Inc (HUM) (multiple key executive sales), Activision Blizzard, Inc. (ATVI) (sample).
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Check out the following two videos; they capture some of the spirit…
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