June 15th, 2014
by Asif Suria
Insider buying declined last week with insiders buying $42.41 million of stock compared to $115.81 million in the week prior. Selling also decreased with insiders selling $910.43 million of stock last week compared to $2.29 billion in the week prior.
Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week went up to 21.47. In other words, insiders sold more than 21 times as much stock as they purchased. The Sell/Buy ratio this week compares unfavorably with the prior week, when the ratio stood at 19.77.
We are calculating an adjusted ratio by removing transactions by funds and companies and trying as best as possible only to retain information about insiders and 10% owners who are not funds or companies.
Insider Sell Buy Ratio June 13, 2014
Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers,funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.
Notable Insider Buys:
1. Endurance Specialty Holdings Ltd. (ENH): $51.63
Chairman & Chief Executive Officer John Charman acquired 35,630 shares of this insurance company for a total amount of $1.46 million. 15,300 of these shares were preferred shares purchased for $26.69/share and 20,330 were ordinary shares purchased for $51.71/share. These shares were purchased indirectly by various trusts.
You can view the list of recent insider transactions for Endurance Specialty Holdings Ltd. here.
|P/E: 8.05||Forward P/E: 9.49||Industry P/E: 13.52|
|P/S: 1.06||Price/Book: 0.77||EV/EBITDA: 4.91|
|Market Cap: $2.31B||Avg. Daily Volume: 314,700||52 Week Range: $47.99 – $58.83|
2. Calamos Asset Management Inc. (CLMS): $13.17
Chairman, CEO, Global Co-CIO John P. Calamos Sr. acquired 110,911 shares of this asset management company, paying $13.26 per share for a total amount of $1.47 million. Mr. Calamos increased his stake by 3.23% to 3,539,662 shares with this purchase.
You can view the list of recent insider transactions for Calamos Asset Management Inc. here.
|P/E: 15.07||Forward P/E: 22.32||Industry P/E: 15.96|
|P/S: 1.04||Price/Book: 1.2||EV/EBITDA: -1.6|
|Market Cap: $270.39M||Avg. Daily Volume: 175,625||52 Week Range: $9.46 – $13.69|
3. Opko Health, Inc. (OPK): $9.03
CEO & Chairman Phillip Frost M.D. acquired 130,500 shares of this medical devices and drug development company, paying $9.09 per share for a total amount of $1.19 million. These share were purchased indirectly by Frost Gamma Investments Trust.
You can view the list of recent insider transactions for Opko Health, Inc. here.
|P/E: N/A||Forward P/E: N/A||Industry P/E: 24.29|
|P/S: 43.07||Price/Book: 4.5||EV/EBITDA: -49.03|
|Market Cap: $3.74B||Avg. Daily Volume: 2,376,810||52 Week Range: $6.75 – $12.95|
4. Jive Software, Inc. (JIVE): $8.26
Chairman & CEO Anthony Zingale acquired 100,000 shares of this application software company, paying $7.55 per share for a total amount of $755,490. These shares were purchased indirectly through a trust.
You can view the list of recent insider transactions for Jive Software, Inc. here.
|P/E: N/A||Forward P/E: N/A||Industry P/E: 19.68|
|P/S: 3.75||Price/Book: 6.36||EV/EBITDA: -7.02|
|Market Cap: $581.14M||Avg. Daily Volume: 718,535||52 Week Range: $6.75 – $18.48|
5. Air Lease Corporation (AL): $37.95
Shares of this commercial jet leasing company were acquired by 2 insiders:
- President and COO John L. Plueger acquired 10,000 shares, paying $37.98 per share for a total amount of $379,752. Mr. Plueger increased his stake by 1.77% to 576,065 shares with this purchase.
- Director Cheryl Gordon Krongard acquired 5,000 shares, paying $41.00 per share for a total amount of $205,000. Mr. Krongard increased his stake by 65.02% to 12,690 shares with this purchase.
You can view the list of recent insider transactions for Air Lease Corporation here.
|P/E: 19.08||Forward P/E: 13.6||Industry P/E: 626.99|
|P/S: 4.2||Price/Book: 1.48||EV/EBITDA: N/A|
|Market Cap: $3.87B||Avg. Daily Volume: 907,473||52 Week Range: $25.13 – $42.89|
You can view the full list of purchases from this Insider Buying page.
Notable Insider Sales:
1. Carnival plc (CUK): $39.89
Chairman of the Board Micky Meir Arison sold 2,399,094 shares of this cruise ship operator for $40.27, generating $96.62 million from the sale. These shares were sold indirectly through various trusts and other entities.
You can view the list of recent insider transactions for Carnival plc here.
|P/E: 30.2||Forward P/E: N/A||Industry P/E: N/A|
|P/S: 2.03||Price/Book: 1.28||EV/EBITDA: 13.01|
|Market Cap: $30.99B||Avg. Daily Volume: 126,508||52 Week Range: $32.33 – $42.77|
2. Patterson-UTI Energy Inc. (PTEN): $34.11
Shares of this oil & gas drilling & exploration company were sold by 3 insiders:
- Chairman of the Board Mark S. Siegel sold 340,000 shares for $33.62, generating $11.43 million from the sale. 170,000 of these shares were sold indirectly by Remy Capital Partners III, L.P.
- Senior Vice President Kenneth N. Berns sold 85,000 shares for $33.62, generating $2.86 million from the sale.
- President-Drilling Subsidiary James Michael Holcomb sold 44,445 shares for $33.63, generating $1.49 million from the sale.These shares were sold as a result of exercising options immediately prior to the sale.
You can view the list of recent insider transactions for Patterson-UTI Energy Inc. here.
|P/E: 29.95||Forward P/E: 17.49||Industry P/E: 21.23|
|P/S: 1.78||Price/Book: 1.74||EV/EBITDA: 5.89|
|Market Cap: $4.89B||Avg. Daily Volume: 2,421,300||52 Week Range: $18.83 – $34.28|
3. Hilton Worldwide Holdings Inc. (HLT): $22.29
Shares of this hotel chain were sold by 3 insiders:
- Executive Vice President and Chief Human Resources Officer Matthew W. Schuyler sold 373,968 shares for $22.79, generating $8.52 million from the sale.
- Executive Vice President and Chief Financial Officer Kevin J. Jacobs sold 172,600 shares for $22.80, generating $3.93 million from the sale.
- Executive Vice President and President, Development, Architecture and Construction Ian Russell Carter sold 100,000 shares for $22.80, generating $2.28 million from the sale.
You can view the list of recent insider transactions for Hilton Worldwide Holdings Inc. here.
|P/E: 41.51||Forward P/E: 27.18||Industry P/E: 50|
|P/S: 2.25||Price/Book: 4.88||EV/EBITDA: 19.36|
|Market Cap: $21.95B||Avg. Daily Volume: 2,365,130||52 Week Range: $20.55 – $25.75|
4. Huntsman Corporation (HUN): $28.09
Executive Chairman Jon M. Huntsman sold 455,072 shares of this chemicals producer for $28.40, generating $12.93 million from the sale. These shares were sold indirectly by Huntsman Family Holdings Company LLC
You can view the list of recent insider transactions for Huntsman Corporation here.
|P/E: 33.24||Forward P/E: 10.64||Industry P/E: 21.79|
|P/S: 0.6||Price/Book: 3.33||EV/EBITDA: 8.82|
|Market Cap: $6.78B||Avg. Daily Volume: 3,114,650||52 Week Range: $16.02 – $28.87|
5. SandRidge Energy, Inc. (SD): $6.95
Director William A. Gilliland sold 1,721,355 shares of this oil and gas company for $6.77, generating $11.66 million from the sale. 1,388,489 of these shares were sold indirectly by Gillco Energy, LP.
You can view the list of recent insider transactions for SandRidge Energy, Inc. here.
|P/E: N/A||Forward P/E: 33.1||Industry P/E: 21.23|
|P/S: 1.74||Price/Book: 1.97||EV/EBITDA: 5.07|
|Market Cap: $3.37B||Avg. Daily Volume: 7,647,110||52 Week Range: $4.68 – $7.1|
You can view the full list of sales from this Insider Sales page.
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