General Electric (GE), once the bluest of blue-chip stocks, has fallen hard. Since the end of 2016, GE’s market cap has dropped by 70% -- from $277 billion to $83 billion. In June GE was dropped from the Dow Jones Industrial Average after more than a century. The stock now trades at $9.30, down nearly 50% year-to date.
In early 2018 Tandem Diabetes Care (TNDM) traded just above $2 a share – one of a hundred small cap heath care companies with more potential than profits. Bankruptcy seemed more likely than breakout success. No one suspected that by September TNDM would trade at $50, a gain of 2000%? Well, almost no one.
Two Bed Bath & Beyond insiders bought shares as the slumping retailer published an investor update describing improving June sales trends. After announcing dismal Q1 Covid-19-impacted earnings on July 8, Bed Bath & Beyond (BBBY) management received lots of questions from investors. So on Tuesday, the company...
Edgewater Technology (NASDAQ:EDGW) is a Massachusetts-based business and IT consulting firm with a market cap of $75 million and annual revenue of about $100 million. According to the company’s website, one security analyst follows the company. It’s the kind of stock that, as an old colleague of mine liked to say, “trades by appointment.” Average trading volume of EDGW is about 20,000 shares per day – or about $100K in average daily dollar volume. That’s too small for the typical hedge fund to mess with.
A stock buyback announcement presumably means management believes a company’s shares are undervalued. So a stock typically jumps on buyback news. Indeed, IBTX shares rallied after the announcement and insider buying disclosures despite a weak broad market. Unfortunately, insider buying after a buyback announcement is the exception. Here’s a dirty little secret – the very same officers and other insiders who initiate buyback programs often sell personal shares immediately after the buyback news.
Newell Brands (NWL) stock tumbled 22% over three days, but a long-time lieutenant of activist investor Carl Icahn was buying, picking up $1 million worth on August 8 at $20.50. In total, 3 directors of NWL bought $1.7 million of stock into the downdraft. The purchases were disclosed in Form 4 filings submitted today.
The price of oil has plummeted over 21% since October 3. Brent crude has traded lower for the last 10 consecutive sessions -- it’s longest losing streak since 1984.
A number of energy-related companies have seen unusually aggressive insider accumulation. These stocks may be the biggest winners when the inevitable rebound take place. Here is a list of stocks showing the greatest insider accumulation over the last couple weeks.
Just over a year ago Hurricane Maria devastated the northern Caribbean, causing catastrophic damage and loss of life across the region and particularly in Puerto Rico.
For Liberty Latin America (Nasdaq:LILA), a leading provider of cable, internet and telephone services in Puerto Rico and nearby islands, it’s taken a long time to restore service, and the company’s operations and stock price have suffered.
