Last Week's Notable Insider Buys: Cboe, IBM, Xerox, And More

Conventional wisdom says that insiders and 10% shareholders really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when markets are near all-time highs.

Though buy windows remain closed for many insiders during earnings-reporting season, plenty of others have continued to add shares despite market volatility and economic uncertainty. Here are some of the most noteworthy insider purchases reported in the past week.

Carl Icahn, a 10% shareholder of Xerox Holdings Corp. (XRX), indirectly added about 1.06 million shares to his stake at prices ranging from $18.26 to $18.93 apiece. That cost him more than $19.45 million and raised the stake to over 28.52 million shares. The total float is less than 210 million.

American Assets Trust Inc. (AAT) saw Chief Executive Officer Ernest Rady indirectly pick up almost 259,800 shares of this real estate investment trust. At $21.13 to $21.85 per share, the transactions totaled over $6.60 million. Rady also bought more than 45,000 shares in September.

A beneficial owner of Esperion Therapeutics Inc. (ESPR) bought 200,000 shares last week at $25.31 apiece. That totaled more than $5.06 million, and the stake was up to more than 3.94 million shares. Note that this owner also recently bought Molecular Templates Inc. (MTEM) shares.

A Charles River Laboratories Intl. Inc. (CRL) director bought shares while others were selling. The 7,200 shares were scooped up at prices ranging from $232.70 to $233.5, which totaled almost $1.68 million. The CEO and other executives parted with more than 30,800 shares last week, too.

An executive at Renasant Corp. (RNST) picked up 28,000 shares of this Mississippi-based bank holding company. At prices ranging from $28.89 to $29.05 per share, that cost him more than $811,400. The purchase boosted that stake to less than 60,300 shares.

1 2
View single page >> |

Disclosure: At the time of this writing, the author had no position in the mentioned equities.

© 2020 Benzinga does not provide investment advice. All rights reserved.

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.