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Welcome to edition 346 of Insider Weekends. Insider buying declined last week with insiders buying $22.23 million of stock compared to $33.94 million in the week prior. Selling increased more than fourfold with insiders selling $2.68 billion of stock last week compared to $614.39 million 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 went up to 120.44. In other words, insiders sold more than 120 times as much stock as they purchased. The Sell/Buy ratio this week compares unfavorably with the prior week, when the ratio stood at 18.1.
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. Seritage Growth Properties (SRG): $43.51
10% owner Bruce R. Berkowitz purchased 75,200 shares of this retail REIT, paying $40.63 per share for a total amount of $3.06 million. These shares were acquired in accounts managed indirectly by Mr. Berkowitz.