Welcome to edition ten of Insider Weekends. Insider buying decreased last week with insiders purchasing $33.42 million of their stock when compared to $37.65 million in the week prior. Selling held steady with insiders selling $820.41 million worth of stock when compared to $821.45 million in the week prior.
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 went up to 24.55. In other words, insiders sold almost 25 times as much stock as they purchased. The Sell/Buy ratio this week compares unfavorably with the week prior when the ratio stood at 21.82. 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.
The biggest cluster of insider sales last week was by the insiders of for-profit education company Bridgepoint Education (BPI) where six insiders sold $8.39 million worth of stock. The for-profit education sector has recently been the target of increased regulatory oversight related to their use of financial aid and their loan practices. The biggest cluster of insider purchases last week was by the insiders of MEMC Electronic Materials (WFR) where four insiders purchased $1.22 million worth of stock. This follows purchases by three additional insiders including the CFO last week. Shares of WFR had fallen to a fresh 52 week low two weeks ago after second quarter results were announced.
Notable Insider Buys:
1. Akamai Technologies Inc. (AKAM): $44.22
Shares of this internet content delivery company were purchased by two insiders last week. This follows a 25,000 share purchase by Director David Kenny last week.
|P/E: 54.46||Forward P/E: 27.81||Industry P/E: 21.3|
|P/S: 8.58||Price/Book: 4.04||EV/EBITDA: 20.83|
|Market Cap: $8.03B||Avg. Daily Volume: 5,064,590||52 Week Range: $16.76 – $46.72|
2. Boston Private Financial Holdings Inc. (BPFH): $6.2
Shares of this Boston based bank holding company were purchased by two insiders.
|P/E: N/A||Forward P/E: 14.09||Industry P/E: 14.71|
|P/S: 2.12||Price/Book: 0.98||EV/EBITDA: N/A|
|Market Cap: $471.39M||Avg. Daily Volume: 752,228||52 Week Range: $4.31 – $8.97|
3. Cymer Inc. (CYMI): $30.53
Director Eric Ruttenberg acquired 50,000 shares of this semiconductor equipment & materials company, paying $33.6 per share for a total amount of $1.68 million. Mr. Ruttenberg is co-managing member of New York based fund Tinicum Capital Partners and Cymer is making our list for a third week in a row.
|P/E: 15.33||Forward P/E: 9.37||Industry P/E: 17.54|
|P/S: 2.14||Price/Book: 1.64||EV/EBITDA: 6.92|
|Market Cap: $901.80M||Avg. Daily Volume: 326,605||52 Week Range: $28.31 – $40.06|
4. Columbia Sportswear Company (COLM): $47.85
Director Stephen Babson acquired 29,402 shares of this Portland, Oregon based apparel company, paying $49.39 per share for a total amount of $1.45 million. Columbia’s hiking shoes were a personal favorite of mine during my years in the Pacific Northwest.
|P/E: 23.65||Forward P/E: 17.59||Industry P/E: 15.53|
|P/S: 1.26||Price/Book: 1.69||EV/EBITDA: 9.45|
|Market Cap: $1.62B||Avg. Daily Volume: 137,168||52 Week Range: $35.34 – $60.1|
5. MEMC Electronic Materials Inc. (WFR): $10.47
Shares of this manufacturer and seller of wafers were purchased by four insiders:
|P/E: N/A||Forward P/E: 10.47||Industry P/E: 19.65|
|P/S: 1.52||Price/Book: 1.08||EV/EBITDA: 42.03|
|Market Cap: $2.38B||Avg. Daily Volume: 7,085,530||52 Week Range: $9.19 – $19.31|
Notable Insider Sales:
1. Crown Castle International Corp. (CCI): $38.76
Director David Abrams sold 1,156,878 shares of this diversified communication services provider for $40.76 per share generating $47.15 million. Mr. Abrams and another director also sold $47.15 million worth of stock in the week prior.
|P/E: N/A||Forward P/E: 104.76||Industry P/E: 18.06|
|P/S: 6.35||Price/Book: 4.54||EV/EBITDA: 16.98|
|Market Cap: $11.25B||Avg. Daily Volume: 2,117,580||52 Week Range: $25.79 – $41.44|
2. Intrepid Potash, Inc. (IPI): $23.55
Shares of this potash mining company were sold by two insiders:
|P/E: 55.81||Forward P/E: 18.69||Industry P/E: 29.57|
|P/S: 6.61||Price/Book: 2.49||EV/EBITDA: 18.4|
|Market Cap: $1.77B||Avg. Daily Volume: 1,010,670||52 Week Range: $19.08 – $34.2|
3. Acorda Therapeutics, Inc. (ACOR): $32.3
Shares of this biopharmaceutical company were sold by four insiders:
|P/E: N/A||Forward P/E: 30.47||Industry P/E: 16.32|
|P/S: 14||Price/Book: 10.29||EV/EBITDA: -16.11|
|Market Cap: $1.24B||Avg. Daily Volume: 492,497||52 Week Range: $15.52 – $40.48|
4. Cinemark Holdings Inc. (CNK): $15.51
Shares of this motion picture exhibitor were sold by three insiders:
|P/E: 12.79||Forward P/E: 11.75||Industry P/E: 25.09|
|P/S: 0.85||Price/Book: 1.87||EV/EBITDA: 6.95|
|Market Cap: $1.76B||Avg. Daily Volume: 905,554||52 Week Range: $9.5 – $19.8|
5. Bridgepoint Education, Inc. (BPI): $13.51
Shares of this for-profit education company were sold by six insiders:
|P/E: 8.45||Forward P/E: 5.43||Industry P/E: 12.58|
|P/S: 1.33||Price/Book: 3.81||EV/EBITDA: 2.82|
|Market Cap: $738.82M||Avg. Daily Volume: 685,049||52 Week Range: $13.39 – $27.5|
Voluntary Disclosure: I have a long position in WFR.
Contributing author: Ann Kumar.