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Miscellaneous!

The current S&P 500 P/E ratio is 26.57 (as of 2/24/17, end of day) – to compare with a mean P/E of 15.64 and median of 14.65 (sample data since 1870). Stocks are quite expensive – but we are NOT in a bubble, not yet anyhow, although we’re getting closer…
 
 
Current S&P 500 PE Ratio:  26.57 +0.04 (0.15%)
(4:10 pm EST, Fri Feb 24)

 

Mean: 15.64  since 1870
Median: 14.65  since 1870
Min: 5.31 (Dec 1917)
Max: 123.73 (May 2009)

Price to earnings ratio, based on trailing twelve month “as reported” earnings.
Current PE is estimated from latest reported earnings and current market price.
 
 
No matter what – US rate hikes, global growth concerns, the volatility of oil and other commodities, Russia and China’s military ambitions, cybersecurity threats, terrorist attacks, etc. – great companies will continue to thrive. If you are a long-term investor, buy opportunities are out there. Examples? Some energy issues (despite the sector’s recent advance) are still reasonably priced. No wonder Warren Buffett a few months back added to his Phillips 66 (PSX) holdings (at a price close to current ones). Some biotech and healthcare issues seem to present investors with long-term appreciation potential. Think McKesson Corporation (MCK), Biogen (BIIB) (An insider bought a massive amount of BIIB on 10/22 and 10/23/2015; shares still trade in the vicinity), Gilead Sciences, Inc. (GILD), Alnylam Pharmaceuticals (ALNY), AbbVie Inc (ABBV), Mallinckrodt PLC (MNK), Alexion Pharmaceuticals, Inc. (ALXN), and a few others. Financials may need to consolidate after their recent advance, but some retailers may also offer value. Think Bed Bath & Beyond Inc. (BBBY), J C Penney Company Inc (JCP), Macy’s, Inc. (M); just beware of value traps. Casino equities led by Wynn Resorts (WYNN) (which has consolidated over the past few months) may restart to outperform (after underperforming for years). Also intriguing at current valuations: Icahn Enterprises LP (IEP) (Carl Icahn just bought more…), Twitter Inc (TWTR) (Jack Dorsey added to his stake), Stericycle Inc (SRCL), and Transocean LTD (RIG). Please, see below and our daily updates for insiders and hedge funds’ takes and many more ideas…

 

Shareholders beware!

 

Updated at 3:22 pm EST, February 25, 2017

Recently or earlier this year insiders have bought shares of (newly added today) Icahn Enterprises LP (IEP), Arconic Inc (ARNC), Blackrock 2022 Global Income Opportunity Trust (BGIO), Evoke Pharma Inc (EVOK), Avon Products, Inc. (AVP), GNC Holdings Inc (GNC), BioTime, Inc. (BTX), Foundation Building Materials, Inc. (FBM), Coty Inc (COTY), Vermillion, Inc. (VRML), Rent-A-Center Inc (RCII), Sierra Oncology, Inc., formerly ProNAi Therapeutics, Inc. (SRRA), Colliers International Group Inc (CIGI), Agilysys, Inc. (AGYS), Clipper Realty Inc. (CLPR), Global Water Resources Inc (GWRS), Mallinckrodt PLC (MNK), Aldeyra Therapeutics Inc (ALDX), Vista Outdoor Inc (VSTO), Versants Inc (VSAR), Murphy USA Inc (MUSA), AMC Entertainment Holdings Inc (AMC), Walgreens Boots Alliance Inc (WBA), CONSOL Energy Inc. (CNX), Crispr Therapeutics AG (CRSP), Enterprise Products Partners L.P. (EPD), Murphy USA Inc (MUSA), QUALCOMM, Inc. (QCOM), Envirostar Inc (EVI), Macquarie Infrastructure Corp (MIC), Howard Bancorp Inc (HBMD), Jounce Therapeutics Inc (JNCE), Tailored Brands Inc (TLRD), Live Oak Bancshares Inc (LOB), Seritage Growth Properties (SRG), AnaptysBio Inc (ANAB), Calamos Asset Management, Inc (CLMS), Alliance Data Systems Corporation (ADS), Eagle Bulk Shipping Inc (EGLE), Swift Transportation Co (SWFT), Mirati Therapeutics, Inc. (MRTX), Heron Therapeutics Inc (HRTX), Dell Technologies Inc (DVMT), Kindred Biosciences Inc (KIN), Virtu Financial Inc (VIRT), American Outdoor Brands Corporation, formerly Smith & Wesson Holding Corporation (AOBC), Lawson Products, Inc. (LAWS), WPX Energy Inc (WPX), Seritage Growth Properties (SRG), Regeneron Pharmaceuticals Inc (REGN), Retractable Technologies, Inc. (RVP).

 

(The aforementioned list only includes a subset of companies where insider purchases have taken place; it is pre-screened by our in-house team of .o3 analysts along criteria that have yet to be determined!) 

 

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Updated at 3:13 pm EST, February 25, 2017