March to Exit
by Insider Zone - March 16th, 2010 9:28 am
By Ilene
Let’s take a look at Insider Buying and Selling over the last week or so. These are screen shots from Finviz - the significant buys against a green background first and significant sells against the pink background second. All the buys fit into my screen shot but the sells did not. Click here to see all the sells.
Note that the largest buy in the group, for KITD was at a price of 9.73 (KITD is currently at 11.54). The buy was part of an Equity Offering rather than an open market purchase. Tuzman Kaleil Isaza’s (KITD’s Chairman and Chief Exec. Officer) history of buys is here.
Note selling in favorites such as CSCO, GOOG and AMZN.
Buys
Sells
Continuation of the sell list:
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INSIDERS AREN’T THE ONLY ONES BOYCOTTING THEIR OWN SHARES
by Insider Zone - September 16th, 2009 9:45 am
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INSIDERS AREN’T THE ONLY ONES BOYCOTTING THEIR OWN SHARES
Courtesy of The Pragmatic Capitalist
Insiders aren’t the only ones who aren’t buying their own shares. According to S&P U.S. corporations have reduced buybacks of their own shares to levels that haven’t been seen since 1998. Bloomberg reports:
U.S. companies spent the least on share buybacks in the second quarter since at least 1998, S&P said, as the recession crimped earnings.Standard & Poor’s 500 Index companies paid $24.2 billion to repurchase shares, a 72 percent decline from the $87.9 billion they spent a year earlier and 86 percent less than the record $172 billion in the third quarter of 2007. That’s the least since S&P began tracking the trend in 1998, the New York-based research and credit rating firm said. In the second quarter, 169 companies bought back stock, compared with 288 a year earlier.
The worst recession in seven decades convinced companies to stop buying back shares even after valuations fell to their lowest level in two decades, according to data compiled by Bloomberg. Executives use repurchases to lower the amount of outstanding shares and increase stockholders’ stake in profits.
“Weak economies, poor growth prospects, the credit crunch, all of those factors that pushed stock prices down were also impacting revenue, and cash on hand, and all the things needed to repurchase shares,” said James Gaul, a money manager at Boston Advisors LLC in Boston, which oversees $1.5 billion. “In a situation where you’re really strapped for day-to-day expenses, you’re not going to be buying back stock.”
The collapse of the subprime mortgage market spurred $1.6 trillion in bank losses and writedowns worldwide, dragged the U.S., Europe and Japan into the first simultaneous recession since World War II and froze credit markets.
Buybacks Drop
The decline in share buybacks came after the S&P 500 fell to its lowest price relative to profits in 24 years in March. The index traded at an average price-earnings ratio of 14.2 in the second quarter, compared with 16.9 a year earlier and 16.6 in the third quarter of 2007.
Companies in the S&P 500 hoarded cash in the second quarter to weather a record eighth consecutive decrease in quarterly profit. They held a combined $1.06 trillion in cash in the period, 21 percent more than a year earlier and 29 percent more than the in the third quarter of 2007,…
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THE NEGATIVE TREND IN INSIDER SELLING WORSENS
by Insider Zone - September 15th, 2009 2:37 pm
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The insider dump-a-thon continues; the stock market’s indifference continues right on with it. - Ilene
THE NEGATIVE TREND IN INSIDER SELLING WORSENS
Courtesy of The Pragmatic Capitalist
For the latest two week period ending yesterday, insiders purchased just $4.6MM in stock while selling an astounding $471MM in stock. That is a $217MM jump over last week’s reading of $254MM. The trend in insider selling has been negative for quite some time, but even more alarming is the total lack of insider buying.
Insiders sell for a number of varying reasons, but it remains confounding that the equity markets can be so convinced of an economic rebound while insiders give a resounding vote of no confidence in their own companies via purchases of their own shares. Perhaps the lack of organic growth via revenue growth has insiders less than convinced of the economic rebound.
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INSIDER SELLING CONTINUES TO SOAR, BUYING LOW
by Insider Zone - September 10th, 2009 3:36 pm
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INSIDER SELLING CONTINUES TO SOAR, BUYING LOW
Courtesy of The Pragmatic Capitalist
Insider selling for the latest two week period totaled $254MM while insider buying totaled $163MM. The headline figure is misleading, however, as $150MM of the buying comes from one purchase by Enterprise Products billionaire Chairman, Dan Duncan. Minus the Duncan purchase, the selling to buying ratio remains at an extraordinarily high level of nearly 20:1. All in all, corporate insiders continue to exhibit very little confidence in their own shares via the use of their personal dollars.
Click for larger image
Sources: Finviz, insidercow.com
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Insider Selling/Buying Ratio Doubles to 61.8x
by Insider Zone - September 3rd, 2009 11:30 am
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Insider Selling/Buying Ratio Doubles to 61.8x
Courtesy of Tyler Durden
TrimTabs earlier disclosed that the ratio of insider selling to buying had averaged about 31x for August, with $6.3 billion of insider sales matched by only $210 million on insider buys. Insiders apparently decided to exit August with a bang, with the last week of insider transactions doubling the sell-to-buy ratio to 61.8x! Over half a billion in stock was sold, while a whopping $8 million was purchased.
If there is any doubt as to which way insiders were leaning during this "market rally," this data should seal that particular coffin.
Data courtesy of FinViz
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INSIDER SELLING SPIKES TO NEW HIGHS, BUYING STILL NON-EXISTENT
by Insider Zone - September 1st, 2009 9:44 pm
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INSIDER SELLING SPIKES TO NEW HIGHS, BUYING STILL NON-EXISTENT
Courtesy of The Pragmatic Capitalist
The insider selling statistics continue to represent an almost unbelievably low level of confidence by insiders in their own companies. The latest data out of Finviz showed an incredible $837MM in insider selling compared to just $13MM in insider buying. While we try not to read too much into the extreme amount of insider selling (insiders sell for many reasons that don’t always represent a lack of confidence in future prices) the drop-off in insider buying is quite alarming. Insiders only buy their own stocks for one reason: they believe the stock is going to rise. The total lack of insider buying can only be seen as a widespread vote of no confidence in the future prices of U.S. stocks. Although the selling data should be largely ignored, the incredible amount of sales has to make one wonder how much of the selling is due to insiders who simply want to cash out of stocks before they decline again….
The following chart from insidercow.com shows the sharp drop in the insider buying:
Click [twice] for larger image
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Pace of Insider Sales Continues to Escalate
by Insider Zone - August 30th, 2009 3:34 pm
Ockham Research comments on the ongoing insider selling of shares while the rally persists. Insiders are becoming increasingly bearish. - Ilene
Pace of Insider Sales Continues to Escalate
Courtesy of Ockham Research, The Razor’s Edge
At Ockham, we continue to be interested insider trading activity as an indicator of sentiment. Of course, we understand that insiders do not know what the future holds more presciently than the rest of us, but we think it is safe to assume that there are few investors more knowledgeable about any particular stock. The trend in insider trading activity suggests that corporate managers believe that their company’s stocks are getting out ahead of themselves.
We have noted the fact that insiders have become increasingly bearish over the last few months, and each time the extent to which the sellers have outnumbered the buyers continues to rise. Today, a press release from TrimTabs Investment Research shows that insiders are selling at a pace not yet seen; insider selling is 30.6x greater than insider buying! This is the highest ratio on record since TrimTabs began tracking this data in 2004. Furthermore, their data reveals that insiders have sold a record $105.2 billion worth of stock in just the last four months.
Thus far, the bearishness of insiders over the last four months has led to some missed gains thanks to the continued rally. However, instead of regaining their faith in this market, insiders are digging in their heals on the bearish side of trades. Readers can come to their own conclusions about the implications of such a strong and defined trend, but the CEO of TrimTabs certainly has an opinion.
“The best-informed market participants are sending a clear signal that the party on Wall Street is going to end soon…
Investors who think the U.S. economy is recovering are going to get a big shock this fall. Companies and corporate insiders are signaling that the economy is in much worse shape than conventional wisdom believes.”– Charles Biderman CEO of TrimTabs Investment Research.
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Insider Trading and Investor Sentiment Signaling U.S. Stock Market Top
by Insider Zone - August 28th, 2009 9:13 pm
Insider Trading and Investor Sentiment Signaling U.S. Stock Market Top
Source: TrimTabs, www.TrimTabs
Insider Selling in August Soars to 30.6 Times Insider Buying, Highest Level Since TrimTabs Began Tracking in 2004. NYSE Short Interest Plunges 10.3%, While Margin Debt Spikes 5.9%
SAUSALITO, Calif., Aug. 28 /PRNewswire/ — TrimTabs Investment Research reported that selling by corporate insiders in August has surged to $6.1 billion, the highest amount since May 2008. The ratio of insider selling to insider buying hit 30.6, the highest level since TrimTabs began tracking the data in 2004.
"The best-informed market participants are sending a clear signal that the party on Wall Street is going to end soon," said Charles Biderman, CEO of TrimTabs…
In a research note, TrimTabs explained that insider activity is not the only sign the rally is about to end. The TrimTabs Demand Index, which tracks 18 fund flow and sentiment indicators, has turned very bearish for the first time since March…
"When corporate insiders are bailing, the shorts are covering and investors are borrowing to buy, it generally pays to be a seller rather than a buyer of stock," said Biderman.
TrimTabs also reports that the actions of U.S. public companies have been bearish. In the past four months, companies have been net sellers of a record $105.2 billion in shares.
"Investors who think the U.S. economy is recovering are going to get a big shock this fall," said Biderman…
TrimTabs Investment Research is the only independent research service that publishes detailed daily coverage of U.S. stock market liquidity–including mutual fund flows and exchange-traded fund flows–as well as weekly withheld income and employment tax collections. Founded by Charles Biderman, TrimTabs has provided institutional investors with trading strategies since 1990. For more information, please visit www.TrimTabs.com.
Read entire TrimTab article here.
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Insider Buying Is Practically Non-Existent
by Insider Zone - August 24th, 2009 10:24 am
Insider Buying Is Practically Non-Existent
Courtesy of Joe Weisenthal at Clusterstock referencing The Pragmatic Capitalist
"The latest insider buying and selling statistics continue to show a vote of no confidence from corporate insiders. In the last two weeks insiders purchased just over $17MM versus sales of over $700MM. All of this makes you wonder what corporate insiders are seeing that the investment community isn’t. The following chart from insidercow shows just how skewed the data has been in recent months:"
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Last Week’s Insiders Transactions: 18 Buys For $30 Million, 131 Sells For Over $889 Million
by Insider Zone - August 20th, 2009 1:14 pm
No change in trend, insider buying to insider selling ratio about 1 to 30 (comparing $).
Last Week’s Insiders Transactions: 18 Buys For $30 Million, 131 Sells For Over $889 Million
Courtesy of Tyler Durden at Zero Hedge
Courtesy of Finviz, the ratio of insider buying to selling transactions is 18 to 131. Total transaction value: Buys: $29.7 million; Sells: $889 million. This compares with last week’s buys for $60.1 million and sells for $1.15 billion. $3 Billion in insider sales in three weeks.
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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...
Ilene is editor and affiliate program
coordinator for PSW. She manages the Favorites backup site
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