Welcome to edition 169 of Insider Weekends. Insider buying more than doubled with insiders purchasing $54.86 million of their stock last week compared to $25.89 million in the week prior. Selling also increased with insiders selling $2.85 billion of stock last week compared to $1.44 billion in the week prior.
Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week decreased to 52.02. In other words, insiders sold about 52 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 58.28. 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.
Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers, funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.
Notable Insider Buys:
1. Kinder Morgan, Inc. (KMI): $35.08
Chairman and CEO Richard D. Kinder acquired 500,000 shares of this oil & gas pipelines company, paying $35.74 per share for a total amount of $17.87 million. Mr. Kinder increased his stake by 0.22% to 230,759,786 shares with this purchase.
This purchase followed a sudden 6% drop in the price of the stock in the first week of September after an investment advisory service mentioned that it was going to lay out the short case for the company.
You can view the list of recent insider transactions for Kinder Morgan, Inc. here.
|P/E: 36.81||Forward P/E: 22.34||Industry P/E: N/A|
|P/S: 2.98||Price/Book: 2.7||EV/EBITDA: 13.4|
|Market Cap: $36.34B||Avg. Daily Volume: 5,046,980||52 Week Range: $31.93 – $41.49|
2. Navistar International Corporation (NAV): $36.52
Director Mark H. Rachesky acquired 415,101 shares of this truck and diesel engine manufacturer, paying $34.03 per share for a total amount of $14.13 million. These shares were purchased indirectly by MHR Capital Partners.
We normally skip fund related purchases but decided to highlight this one as we have done in the past after both Mr. Rachesky and Carl Icahn purchased shares of Navistar.
You can view the list of recent insider transactions for Navistar International Corporation here.
|P/E: N/A||Forward P/E: 77.7||Industry P/E: N/A|
|P/S: 0.25||Price/Book: N/A||EV/EBITDA: -10.95|
|Market Cap: $2.94B||Avg. Daily Volume: 1,133,830||52 Week Range: $18.17 – $38.81|
3. AXIS Capital Holdings Limited (AXS): $43.07
CEO, AXIS Insurance John Gressier acquired 176,000 shares of this insurance company, paying $42.47 per share for a total amount of $7.47 million. Mr. Gressier increased his stake by 88.28% to 375,375 shares with this purchase.
You can view the list of recent insider transactions for AXIS Capital Holdings Limited here.
|P/E: 8.89||Forward P/E: 9.22||Industry P/E: N/A|
|P/S: 1.21||Price/Book: 0.98||EV/EBITDA: 7.45|
|Market Cap: $4.92B||Avg. Daily Volume: 839,562||52 Week Range: $33.65 – $48.39|
4. Energy Transfer Partners, L.P. (ETP): $50.87
Director Jamie Welch acquired 20,000 shares of this oil & gas pipelines company, paying $51.82 per share for a total amount of $1.04 million.
You can view the list of recent insider transactions for Energy Transfer Partners, L.P. here.
|P/E: 32.82||Forward P/E: 20.76||Industry P/E: N/A|
|P/S: 0.55||Price/Book: 1.62||EV/EBITDA: 12.3|
|Market Cap: $19.14B||Avg. Daily Volume: 1,173,910||52 Week Range: $40.19 – $54.85|
5. El Paso Pipeline Partners, L.P. (EPB): $40.82
President and COO Steven J. Kean acquired 18,000 shares of this oil & gas pipelines company, paying $42.08 per share for a total amount of $757,510.
You can view the list of recent insider transactions for El Paso Pipeline Partners, L.P. here.
|P/E: 14.81||Forward P/E: 18.3||Industry P/E: N/A|
|P/S: 5.99||Price/Book: 2.1||EV/EBITDA: 12.08|
|Market Cap: $8.89B||Avg. Daily Volume: 449,473||52 Week Range: $33.64 – $44.99|
You can view the full list of purchases from this Insider Buying page.
Notable Insider Sales:
1. Microsoft Corporation (MSFT): $33.03
Shares of Microsoft were sold by 2 insiders:
You can view the list of recent insider transactions for Microsoft Corporation here.
|P/E: 12.8||Forward P/E: 10.94||Industry P/E: N/A|
|P/S: 3.5||Price/Book: 3.45||EV/EBITDA: 6.63|
|Market Cap: $275.14B||Avg. Daily Volume: 52,674,600||52 Week Range: $26.26 – $36.43|
2. Web.com Group, Inc. (WWWW): $30.17
Director Anton J. Levy sold 1,250,000 shares of this internet services provider for $30.00, generating $37.5 million from the sale. These shares were sold indirectly by General Atlantic Partners.
You can view the list of recent insider transactions for Web.com Group, Inc. here.
|P/E: N/A||Forward P/E: 12.21||Industry P/E: N/A|
|P/S: 3.23||Price/Book: 12.63||EV/EBITDA: 26.21|
|Market Cap: $1.47B||Avg. Daily Volume: 749,530||52 Week Range: $13.25 – $31.7|
3. Liquidity Services, Inc. (LQDT): $36.02
Shares of this online auction company were sold by 3 insiders:
You can view the list of recent insider transactions for Liquidity Services, Inc. here.
|P/E: 32.45||Forward P/E: 18.66||Industry P/E: N/A|
|P/S: 2.3||Price/Book: 3.89||EV/EBITDA: 9.96|
|Market Cap: $1.14B||Avg. Daily Volume: 414,144||52 Week Range: $27.26 – $57.42|
4. Jarden Corp. (JAH): $47.61
Shares of this consumer products company were sold by 4 insiders:
You can view the list of recent insider transactions for Jarden Corp. here.
|P/E: 27.05||Forward P/E: 11.87||Industry P/E: N/A|
|P/S: 0.78||Price/Book: 3.32||EV/EBITDA: 10.92|
|Market Cap: $5.36B||Avg. Daily Volume: 1,177,460||52 Week Range: $32.4267 – $49.28|
5. Middleby Corp. (MIDD): $205.57
Shares of this commercial food equipment company were sold by 2 insiders:
You can view the list of recent insider transactions for Middleby Corp. here.
|P/E: 29.34||Forward P/E: 22.2||Industry P/E: N/A|
|P/S: 3.19||Price/Book: 5.46||EV/EBITDA: 16.99|
|Market Cap: $3.93B||Avg. Daily Volume: 89,638||52 Week Range: $113.95 – $213.5|
You can view the full list of sales from this Insider Sales page.