Welcome to the third edition of Insider Weekends. We saw an uptick in insider selling and a drop in insider buying last week.
Sell/Buy Ratio:
The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider buying in that week. The adjusted ratio for last week was 43.46. In other words, insiders sold more than 43 times as much stock as they purchased. We had a couple of big transactions last week that were stock offerings by insiders at Polo Ralph Lauren (RL) and Rubicon Technology (RBCN) that accounted for nearly 70% of all insider selling. The ratio drops to 13.32 if you remove these two transactions. However stock offerings like these where the company is not issuing new shares are just another form of insider selling and hence going forward I will not exclude these transactions. We are calculating an adjusted ratio by removing transactions by funds and trying as best as possible only to retain information about insiders and 10% owners who are not funds.
Notable Insider Buys Last Week:
1. Agilysys (AGYS) $7.37
Director Andrew Cueva acquired 70,065 shares of this IT services provider at an average price of $7.21 per share, paying $505,568.