Insider Trading Report Edition 302: Notable Buys And Sales

Welcome to edition 302 of Insider Weekends. Insider buying declined last week with insiders buying $26.94 million of stock compared to $38.86 million in the week prior. Selling more than doubled with insiders selling $1.32 billion of stock last week compared to $635.25 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 48.99. In other words, insiders sold almost 49 times as much stock as they purchased. The Sell/Buy ratio this week compares unfavorably with the prior week, when the ratio stood at 16.35 and is the highest we have seen since March 27, 2015. We are calculating an adjusted ratio by removing transactions by funds and companies and trying as best as possible only to retain information about insiders and 10% owners who are not funds or companies.

Insider Sell Buy Ratio April 1, 2016

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. Opko Health, Inc. (OPK): $10.41

Shares of this medical devices and drug development company were acquired by 2 insiders:

  • CEO & Chairman Phillip Frost M.D. acquired 134,200 shares, paying $10.17 per share for a total amount of $1.37 million. These shares were purchased indirectly by Frost Gamma Investments Trust.
  • Executive VP-Administration Steven D. Rubin acquired 1,000 shares, paying $10.17 per share for a total amount of $10,166. Mr. Rubin increased his stake by 0.02% to 5,442,407 shares with this purchase.

You can view the list of recent insider transactions for Opko Health, Inc. here.

P/E: N/A Forward P/E: 61.24 Industry P/E: 24.96
P/S: 12.47 Price/Book: 3.1 EV/EBITDA: -83.64
Market Cap: $5.68B Avg. Daily Volume: 4,518,290 52 Week Range: $7.12 – $19.2

2. Patriot National, Inc. (PN): $8.51

Shares of this insurance industry services provider were acquired by 2 insiders:

  • Chairman, CEO and President Steven M. Mariano acquired 70,000 shares, paying $7.60 per share for a total amount of $532,000. These shares were purchased indirectly by Corporation.
  • Director John Del Pizzo acquired 19,200 shares, paying $7.56 per share for a total amount of $145,152. Mr. Del increased his stake by 15.89% to 140,065 shares with this purchase.
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Disclosure: Clients of Signal Partners, LLC  and I may have positions in ...

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