Welcome to the seventh edition of Insider Weekends. Insider buying fell more than 50% last week when compared to the week prior and is now at its lowest level since we started collecting this information in the last week of April. Insiders purchased just $3.4 million of their stock last week while selling picked up pace with insiders selling $335.55 million worth of stock.
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 spiked to 98.64. In other words, insiders sold almost 99 times as much stock as they purchased. A large part of this was driven by sales of AutoZone by famous hedge fund manager Edward (Eddie) Lampert and his fund ESL Partners. While we normally exclude fund sales, Mr. Lampert also happens to be a 10% owner and sold a number of these shares directly. Removing the AutoZone sales drops the ratio to 51.13.
The Sell/Buy ratio this week compares unfavorably with the week prior when the ratio stood at 49.07. We are calculating an adjusted ratio by removing transactions by funds and companies and trying as best as possible only to retain information about insiders and 10% owners who are not funds or companies.
Notable Insider Buys:
1. Agilysys Inc. (AGYS): $7.67
Director Andrew Cueva acquired 116,152 shares of this IT services provider through his fund MAK Capital, paying $7.16 per share for a total amount of $831,560. This is the fifth week Agilysys has made our list.