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Shareholders of Basic Energy Services (BAS) recently saw that stock’s price cut by a third over two days. However, three company insiders viewed the drop as a buying opportunity, significantly increasing personal holdings via open market purchases.
The Chairman, President and CEO of First Horizon Corp. (NYSE:FHN) bought $444K of his own stock on the open market two weeks after telling Jim Cramer on CNBC’s Mad Money that FHN stock was “on sale.” In a Form 4 filing yesterday, Bryan D. Jordan disclosed he bought 25,000 shares of First Horizon stock at an average price of $17.76 on July 31.
when 13F filings were published in mid-May of 2018, it showed that for the first time since its IPO, more funds reduced FB holdings over a quarter than added shares. In Q1, 192 more funds had pared-down FB positions than had increased FB shares (left). While not a huge shift in institutional sponsorship, this indicator was possibly the canary in the coal mine, signaling that FB’s relentless institutional buying momentum had stalled.
On June 13, 2018, Elon Musk reported buying 72,500 shares of Tesla, Inc. (TSLA) at an average price of about $344, spending nearly $25 million. Tesla stock rallied about 7.5% over the next three days. But the big purchase by Musk begs the question: Is it usually profitable to follow famous CEOs into their own stocks when they buy shares?
Hornbeck industries (NYSE: HOS) stock has been on a tear since July 3 when a group of insiders disclosed acquiring a total of 24,550 shares at $4.00. HOS closed at $5.21 on June 29.
Two long-time directors of AbbVie Inc. (NYSE: ABBV) disclosed purchases of the pharmaceutical company’s stock as it pulled back 25% from all-time highs reached earlier this year.
If history is any indication, On Deck Capital (NYSE:ONDK) stock is likely to trade higher in the months to come.
John C. Goff, a Texas Billionaire investor and chairman of Fort Worth-based Crescent Real Estate, filed a 13D on June 13 disclosing an 18.3% position in Houston-based Contango Oil and Gas ( MCF $5.91).
Cronos Group is a Canada-based marijuana producer seemingly well positioned to capitalize on the expected Canadian legalization of recreational marijuana later in the summer of 2018.
Turns out Warren Buffett and Jimmy Buffett are not related. For years the world’s third richest man and the “Margaritaville” singer-songwriter thought they might share ancestors. But DNA testing has apparently ruled that out.