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Welcome to edition 387 of Insider Weekends. Insider buying increased last week with insiders purchasing $145.74 million of stock compared to $101.35 million in the week prior. Selling almost tripled with insiders selling $3.47 billion of stock last week compared to $1.22 billion in the week prior.
There were several interesting insider purchases that did not make our notable insider buys list and I have captured some of them in a Twitter moment that you can check out here.
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 23.79. In other words, insiders sold almost 24 times as much stock as they purchased. The Sell/Buy ratio this week compares unfavourably with the prior week, when the ratio stood at 12.04.
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. Restaurant Brands International Inc. (QSR): $64.93
Director Paul J. Fribourg acquired 384,024 shares of this operator of Burger King and Tim Hortons, paying $65.10 per share for a total amount of $24.99 million.