Welcome to edition 433 of Insider Weekends. Insider buying increased significantly last week with insiders purchasing $124.14 million of stock compared to $47.04 million in the week prior. Selling also increased with insiders selling $1.22 billion of stock last week compared to $989.57 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 dropped to 9.86. In other words, insiders sold almost 10 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 21.04.
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. Spark Energy, Inc. (SPKE): $8.56
Director Keith W. Maxwell acquired 123,904 shares of this electricity and natural gas supplier, paying $8.20 per share for a total amount of $1.02 million. Mr. Maxwell increased his stake by 11.68% to 1,184,338 shares with this purchase.
Spark Energy showed up on my radar in late 2014 and early 2015 following a string of insider purchases during the depths of the energy recession. The stock had declined sharply from its IPO price of $18 ($9 split adjusted) and insiders started loading up. The stock more than doubled over the next two years while sporting a near double digit dividend yield. The stock lost more than 40% of its value over the last year and Mr. Maxwell started buying again on September 11, 2018.
Mr. Maxwell is the Chairman of Spark Energy and several other related entities, which creates the risk of related-party transactions. Energy service companies (ESCOs) like Spark have also come under criticism for their aggressive sales practices and potentially higher charges compared to standard utilities.
You can view the list of recent insider transactions for Spark Energy, Inc. here.
P/E: 23.78 | Forward P/E: 28.53 | Industry P/E: 11.76 |
P/S: 0.31 | Price/Book: 4.69 | EV/EBITDA: 4.44 |
Market Cap: $298.56M | Avg. Daily Volume: 140,959 | 52 Week Range: $7.925 – $15.3 |
2. Odonate Therapeutics, Inc. (ODT): $17.12
Chief Executive Officer Kevin C. Tang acquired 40,000 shares of this biotech company, paying $19.16 per share for a total amount of $766,308. These shares were purchased indirectly by Tang Capital Partners, LP.
You can view the list of recent insider transactions for Odonate Therapeutics, Inc. here.
P/E: N/A | Forward P/E: -5.37 | Industry P/E: 30.89 |
P/S: N/A | Price/Book: 2.67 | EV/EBITDA: -5.26 |
Market Cap: $460.39M | Avg. Daily Volume: 48,293 | 52 Week Range: $15.15 – $32 |
3. Hyster-Yale Materials Handling, Inc. (HY): $60.6
Chairman Alfred M. Rankin acquired 11,707 shares of this lift truck manufacturing company, paying $62.17 per share for a total amount of $727,856. These shares were purchased indirectly through various trusts.
You can view the list of recent insider transactions for Hyster-Yale Materials Handling, Inc. here.
P/E: 28.97 | Forward P/E: 10.34 | Industry P/E: 33.1 |
P/S: 0.33 | Price/Book: 1.8 | EV/EBITDA: 10.18 |
Market Cap: $1B | Avg. Daily Volume: 37,853 | 52 Week Range: $56.4 – $93.9 |
4. U.S. Silica Holdings, Inc. (SLCA): $19.42
Shares of this commercial silica producer were acquired by 5 insiders:
You can view the list of recent insider transactions for U.S. Silica Holdings, Inc. here.
P/E: 9.65 | Forward P/E: 8.75 | Industry P/E: 59.71 |
P/S: 1 | Price/Book: 1.11 | EV/EBITDA: 6.83 |
Market Cap: $1.5B | Avg. Daily Volume: 2,406,476 | 52 Week Range: $17.92 – $38.7 |
5. Landmark Infrastructure Partners LP (LMRK): $14.1
Shares of this property management company were acquired by 2 insiders:
You can view the list of recent insider transactions for Landmark Infrastructure Partners LP here.
P/E: 20.41 | Forward P/E: 21.04 | Industry P/E: N/A |
P/S: 5.86 | Price/Book: 1.07 | EV/EBITDA: 15.92 |
Market Cap: $354.34M | Avg. Daily Volume: 62,051 | 52 Week Range: $12.684 – $18.75 |
You can view the full list of purchases from this Insider Buying page.
Notable Insider Sales:
1. Apple Inc. (AAPL): $224.29
Shares of Apple were sold by 3 insiders:
You can view the list of recent insider transactions for Apple Inc. here.
P/E: 20.32 | Forward P/E: 16.36 | Industry P/E: 6.73 |
P/S: 4.24 | Price/Book: 9.45 | EV/EBITDA: 14.44 |
Market Cap: $1.08T | Avg. Daily Volume: 28,903,270 | 52 Week Range: $150.24 – $233.47 |
2. Alico, Inc. (ALCO): $33.74
President & CEO Remy W. Trafelet sold 524,795 shares of this farm products company for $34.00, generating $17.84 million from the sale. These shares were sold indirectly by 734 Investor, LLC.
You can view the list of recent insider transactions for Alico, Inc. here.
P/E: N/A | Forward P/E: N/A | Industry P/E: 8.89 |
P/S: 3.28 | Price/Book: 1.62 | EV/EBITDA: 19.87 |
Market Cap: $276.67M | Avg. Daily Volume: 9,928 | 52 Week Range: $25.55 – $34.65 |
3. CarGurus, Inc. (CARG): $49.42
Shares of this online auto shopping company were sold by 3 insiders:
You can view the list of recent insider transactions for CarGurus, Inc. here.
P/E: 120.24 | Forward P/E: 159.42 | Industry P/E: 65.13 |
P/S: 14.14 | Price/Book: 34.56 | EV/EBITDA: 458.78 |
Market Cap: $5.41B | Avg. Daily Volume: 971,417 | 52 Week Range: $25.85 – $57.25 |
4. NVIDIA Corporation (NVDA): $269.86
EVP, Worldwide Field Ops Ajay K. Puri sold 90,831 shares of this semiconductors company for $289.35, generating $26.28 million from the sale.
You can view the list of recent insider transactions for NVIDIA Corporation here.
P/E: 39.33 | Forward P/E: 33.61 | Industry P/E: 21.04 |
P/S: 13.81 | Price/Book: 18.66 | EV/EBITDA: 33.7 |
Market Cap: $164.07B | Avg. Daily Volume: 9,585,671 | 52 Week Range: $180.58 – $292.76 |
5. Palo Alto Networks, Inc. (PANW): $215.71
Shares of this software application company were sold by 2 insiders:
You can view the list of recent insider transactions for Palo Alto Networks, Inc. here.
P/E: N/A | Forward P/E: 35.36 | Industry P/E: 34.48 |
P/S: 8.9 | Price/Book: 20.89 | EV/EBITDA: 3036.12 |
Market Cap: $20.24B | Avg. Daily Volume: 1,202,115 | 52 Week Range: $135.85 – $239.5 |
You can view the full list of sales from this Insider Sales page.
Disclaimer: 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.
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