Insider Buying Stages Dramatic Comeback, Nearly 4 Times Greater (Corrected) Than Selling In Prior Week
Correction: due to a data compilation error, the ratio of buys to sell was actually lower: 3.8x. Still, The big bulk buys pushed the ratio to a favorable buying balance. Absent the three big block buys, the balance of the buys accounted for only $10 million.
In one of the more dramatic comebacks seen in the past year, insider buying has finally surpassed insider selling, and that by a wide margin. In the prior week insiders bought $390 million worth of stock while selling just $103 million. Yet the bulk of the buying was concentrated in 3 bulk purchases: MatlinPatterson's acquisition of $300 million worth of FlagStar Bancorp (which judging by its stock price isn't doing all that hot to date - may be worth a second look), Orbitz Worldwide Director Paul Schorr's purchase of $50 million in OWW stock and Intermune direct Jonathan Leff's purchase of $30 million worth of Intermune. Aside from these transactions there were no major notable buys or sells: the largest sale was a $6 million sale of DeVry stock by 10% owner Dennis Kellner.
Data courtesy of FinViz.
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| Insider Transactions 2.1 - revised.pdf | 577.86 KB |
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on Mon, 02/01/2010 - 10:49
#213249
Insider buying didn't seem to matter on the way up, it won't matter on the way down. If this market couldn't hold gains last Friday, the momentum is DOWN from here despite the usual Sunday night futures ramp up leading to gains in the morning session. Go short, young man, go short.
on Mon, 02/01/2010 - 11:23
#213283
Moreover it's Mutual Fund Monday. A modest bump today is likely to be erased over the next day or two.
on Mon, 02/01/2010 - 12:09
#213335
PPT's no-black-monday rule.
on Mon, 02/01/2010 - 10:53
#213255
Tyler, can we get some charts showing projected job losses and business closures in the next year in the united states related to CRE foreclosures?
Nobody is giving any projections of total business closures in america in the next 12 months. Are we going to see 10% or 50% business closures? I'm talking smaller businesses, mom and pops. What effect will the closure of say, 30% of all small businesses in the USA have on employment and the economy? I know this is a lot of work to do but might as well ask. Might just receive.
-MobBarley
on Mon, 02/01/2010 - 11:06
#213265
Now you have a buy in your sell section. You're welcome BTW!
on Mon, 02/01/2010 - 11:10
#213269
I worked with Mark Patterson at Bankers Trust. He's the world's worst stock picker. I wouldn't touch Flagstar and I remember that company from its junk bond days in the '90's.
on Mon, 02/01/2010 - 11:50
#213309
FYI - Flagstar Bank was added this weekend to the list of banks most likely to fail in 2010. Sounds like a sweet investment to me!
on Mon, 02/01/2010 - 12:10
#213339
saw that about Flagstar as well...will be interesting to watch going forward
on Mon, 02/01/2010 - 11:11
#213270
Couldn't this just be bonus money?
If I made $2 mil I might dump 25% back into company stock, even though I'm hugely bearish.
on Mon, 02/01/2010 - 11:28
#213289
Possibly some options issance in what is remaining of the outlier "buys". I'm not sure Tyler includes those in his data.
When you take a look at the pace of selling/buying activity, there isn't as much heavy distribution going on right now, but that really doesn't mean anything. It just seems to me that insiders are patiently waiting for that next spike in selling activity before the pull the trigger.
Well... except for the crazy outliers.
on Mon, 02/01/2010 - 11:11
#213271
Yeah, i tend to agree.. last Friday was indicative of the continued move lower. Will be watching to see how this afternoon's action shapes up.
on Mon, 02/01/2010 - 11:17
#213278
Freaking finally. Yes you buy the stocks. Everyone else has given up.
on Mon, 02/01/2010 - 11:45
#213304
Tyler - BBG reporting Bam Bam budget drops international tax...helping up as well...
on Mon, 02/01/2010 - 17:28
#213893
Yeah, but is it still up when you figure in this back door way of selling?
http://market-ticker.denninger.net/archives/1920-Yes-Bankers-Will-Cheat-...
on Mon, 02/01/2010 - 18:40
#214017
don't always agree with denninger. but he's nailed that one.