Welcome to edition 408 of Insider Weekends. Insider buying decreased last week with insiders purchasing $36.98 million of stock compared to $75.12 million in the week prior. Selling also declined with insiders selling $562.24 million of stock last week compared to $1.18 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 dropped slightly to 15.26. In other words, insiders sold more than 15 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 15.66.
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. Entercom Communications Corp. (ETM): $9.65
Chairman Emeritus Joseph M. Field acquired 375,000 shares of this radio broadcasting company, paying $9.70 per share for a total amount of $3.64 million. Mr. Field increased his stake by 6.80% to 5,886,897 shares with this purchase.
We wrote the following about Entercom Communications two weeks following a $6.14 million purchase by Mr. Field.
We also reported on a $7.96 million purchase by Mr. Field two weeks ago and his purchase of $4.39 million worth of stock in late November after Entercom Communications merged with CBS Radio. This article does a great job of exploring the opportunity that potentially exists for Entercom following the CBS Radio merger.
You can view the list of recent insider transactions for Entercom Communications Corp. here.
|P/E: 2.2||Forward P/E: 6.79||Industry P/E: 23.98|
|P/S: 2.25||Price/Book: 0.79||EV/EBITDA: 31.56|
|Market Cap: $1.33B||Avg. Daily Volume: 2,283,790||52 Week Range: $9.25 – $13.6|
2. OPKO Health, Inc. (OPK): $2.99
Shares of this medical devices and drug development company were acquired by 2 insiders:
- CEO & Chairman Phillip Frost M.D. acquired 284,527 shares, paying $3.06 per share for a total amount of $869,973. These shares were purchased by Frost Nevada Investments Trust.
- Director Robert Scott Fishel acquired 10,000 shares, paying $3.16 per share for a total amount of $31,600. These shares were purchased indirectly by ALSAR Ltd. Partnership, of which Dr. Fishel is the President and CEO.
You can view the list of recent insider transactions for OPKO Health, Inc. here.
|P/E: N/A||Forward P/E: -9.34||Industry P/E: 30.58|
|P/S: 1.57||Price/Book: 0.89||EV/EBITDA: -11.06|
|Market Cap: $1.67B||Avg. Daily Volume: 5,155,272||52 Week Range: $2.66 – $7.9|
3. Aclaris Therapeutics, Inc. (ACRS): $17.62
Shares of this clinical-stage specialty pharmaceutical company were acquired by 3 insiders:
- Director Stephen A. Tullman acquired 26,700 shares, paying $16.54 per share for a total amount of $441,618. Mr. Tullman increased his stake by 20.41% to 157,507 shares with this purchase.
- President and CEO Neal Walker acquired 10,000 shares, paying $16.75 per share for a total amount of $167,500. Mr. Walker increased his stake by 1.13% to 897,184 shares with this purchase.
- Chief Financial Officer Frank Ruffo acquired 1,250 shares, paying $16.59 per share for a total amount of $20,738. Mr. Ruffo increased his stake by 0.81% to 155,615 shares with this purchase.
You can view the list of recent insider transactions for Aclaris Therapeutics, Inc. here.
|P/E: N/A||Forward P/E: -5.49||Industry P/E: 213.65|
|P/S: 323.52||Price/Book: 2.41||EV/EBITDA: -4.91|
|Market Cap: $544.48M||Avg. Daily Volume: 317,553||52 Week Range: $16.011 – $33.1|
4. Conn’s, Inc. (CONN): $27.75
Shares of this furniture and appliances rental company were acquired by 2 insiders:
- Chief Accounting Officer George L. Bchara acquired 7,390 shares, paying $27.41 per share for a total amount of $202,524. Mr. Bchara increased his stake by 18.94% to 46,406 shares with this purchase.
- Chief Human Resources Officer Brian Daly acquired 5,100 shares, paying $27.87 per share for a total amount of $142,128. Mr. Daly increased his stake by 10.06% to 55,806 shares with this purchase.
You can view the list of recent insider transactions for Conn’s, Inc. here.
|P/E: 138.75||Forward P/E: 9.6||Industry P/E: 19.07|
|P/S: 0.57||Price/Book: 1.63||EV/EBITDA: 25.79|
|Market Cap: $870.53M||Avg. Daily Volume: 512,585||52 Week Range: $12.6 – $37.8|
5. Cloudera, Inc. (CLDR): $13.91
Director Michael A. Stankey acquired 25,000 shares of this data science and machine learning company, paying $12.99 per share for a total amount of $324,848. Mr. Stankey increased his stake by 116.65% to 46,432 shares with this purchase.
Mr. Stankey is also a director of application software company Workday (WDAY) and was previously the President and COO of Workday.
You can view the list of recent insider transactions for Cloudera, Inc. here.
|P/E: N/A||Forward P/E: -33.12||Industry P/E: 30.42|
|P/S: 5.58||Price/Book: 6.26||EV/EBITDA: -4.44|
|Market Cap: $2.05B||Avg. Daily Volume: 2,166,629||52 Week Range: $12.57 – $23.35|
You can view the full list of purchases from this Insider Buying page.
Notable Insider Sales:
1. Facebook, Inc. (FB): $164.52
Shares of Facebook were sold by 2 insiders:
- COB and CEO Mark Zuckerberg sold 759,000 shares for $160.78, generating $122.03 million from the sale. These shares were sold indirectly by various entities.
- Chief Technology Officer Michael Todd Schroepfer sold 38,104 shares for $161.31, generating $6.15 million from the sale. These shares were sold indirectly through a trust.
You can view the list of recent insider transactions for Facebook, Inc. here.
|P/E: 30.52||Forward P/E: 18.76||Industry P/E: 41.48|
|P/S: 11.76||Price/Book: 6.43||EV/EBITDA: 17.96|
|Market Cap: $477.93B||Avg. Daily Volume: 36,069,214||52 Week Range: $139.75 – $195.32|
2. Andeavor (ANDV): $110.56
Shares of this oil refining company were sold by 2 insiders:
- Director Paul L. Foster sold 212,400 shares for $107.47, generating $22.83 million from the sale. 169,920 of these shares were sold indirectly by Franklin Mountain Investments Limited Partnership.
- Director Jeff A. Stevens sold 75,000 shares for $110.26, generating $8.27 million from the sale.
You can view the list of recent insider transactions for Andeavor here.
|P/E: 10.23||Forward P/E: 10.12||Industry P/E: 23.58|
|P/S: 0.49||Price/Book: 1.73||EV/EBITDA: 9.61|
|Market Cap: $16.91B||Avg. Daily Volume: 1,839,977||52 Week Range: $75.11 – $121.71|
3. Twitter, Inc. (TWTR): $28.76
Director Evan Clark Williams sold 539,027 shares of Twitter for $29.00, generating $15.63 million from the sale. These shares were sold indirectly through various trusts.
You can view the list of recent insider transactions for Twitter, Inc. here.
|P/E: N/A||Forward P/E: 39.94||Industry P/E: 41.48|
|P/S: 8.81||Price/Book: 4.24||EV/EBITDA: 55.02|
|Market Cap: $21.52B||Avg. Daily Volume: 33,181,572||52 Week Range: $14.12 – $36.8|
4. National Instruments Corporation (NATI): $50.54
Shares of this test, measurement, and control solutions provider were sold by 2 insiders:
- Director James J. Truchard sold 242,500 shares for $50.03, generating $12.13 million from the sale.
- Director Jeffrey L. Kodosky sold 1,600 shares for $48.58, generating $77,728 from the sale. These shares were sold indirectly through a trust.
You can view the list of recent insider transactions for National Instruments Corporation here.
|P/E: 126.35||Forward P/E: 36.1||Industry P/E: 34|
|P/S: 5.14||Price/Book: 5.87||EV/EBITDA: 28.92|
|Market Cap: $6.63B||Avg. Daily Volume: 641,359||52 Week Range: $31.81 – $53.57|
5. LendingTree, Inc. (TREE): $314.1
Chairman & CEO Douglas R. Lebda sold 29,500 shares of this mortgage investment company for $321.34, generating $9.48 million from the sale.
You can view the list of recent insider transactions for LendingTree, Inc. here.
|P/E: 275.77||Forward P/E: 41.33||Industry P/E: 49.52|
|P/S: 6.23||Price/Book: 12.79||EV/EBITDA: 44.2|
|Market Cap: $3.85B||Avg. Daily Volume: 227,603||52 Week Range: $117.15 – $404.4|
You can view the full list of sales from this Insider Sales page.
Disclaimer: I hold long positions in Entercom Communications (ETM) and Twitter (TWTR), and a short position in Facebook (FB). Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.