Analysis based on Insider trading is far more accurate when large quantities of shares have been bought by insiders. Three companies which have seen huge quantities of their stocks being purchased by insiders recently are Elizabeth Arden, Inc. (NASDAQ:RDEN), SandRidge Energy Inc. (NYSE:SD) & OHA Investment Corp (NASDAQ:OHAI). Let’s uncover each of the insider trade separately.
Elizabeth Arden, Inc. (NASDAQ:RDEN) is a $524 million market cap, cosmetics company that is known for its innovative skin care and beauty products. On September 3 and 6, Nightingale and its affiliates purchased massive quantities of the company’s stock. On October 3, the funds purchased 4,000 shares of Elizabeth Arden, Inc. (NASDAQ:RDEN) in several tranches for prices in the range of $16.92 per share to $17.00 per share. On October 6 again the funds purchased 25,744 shares of the company for prices in the range of $16.87 per share to $17 per share. Chuck Royce’s Royce & Associates and Robert Henry Lynch’s Aristeia Capital are two of the largest shareholders of the company. As of June 30, 2014, Royce and Associates owns over 578,000 shares and Aristeia Capital owns over 378,000 shares of Elizabeth Arden, Inc. (NASDAQ:RDEN).
SandRidge Energy Inc. (NYSE:SD) is a 41.89 billion market cap, oil and natural gas exploration company that was founded in 1984 as Riata Energy, Inc. and changed its name to SandRidge Energy Inc. (NYSE:SD) in 2006. On October 3 and 6, Everett R Dobson, a director of SandRidge Energy Inc. (NYSE:SD) purchased large quantities of the company’s stock. On October 3, Dobson acquired 15,000 shares at an average price of $4.93 per share and on October 6 he purchased 38,900 shares at an average price of $3.93 per share. With these acquisitions, Dobson now owns a total of 74,700 shares of the company. Leon Cooperman’s Omega Advisors and Prem Watsa’s Fairfax Financial Holdings are two hedge funds that are bullish on this stock. As of June 30, 2014, Omega Advisors owns over 46 million shares and Fairfax Financial Holdings owns over 32 million shares of SandRidge Energy Inc. (NYSE:SD).
OHA Investment Corp (NASDAQ:OHAI) is a $129 million market cap, investment company that focuses on fixed income investments. On October 2,3,6 and 7, Glenn R August, a director of OHA Investment Corp (NASDAQ:OHAI) purchased huge quantities of the company’s stock in several tranches. On October 2, August bought 12,800 shares at an average price of $6.42 per share, On October 3, August purchased 10,000 shares at an average price of $6.35 per share, On October 6, he purchased 13,100 shares at an average price of $6.21 per share, and on October 7, he purchased an additional 14,600 shares at an average price of $6.27 per share. Accounting for these purchases August now owns a total of 167,734 shares of the company. Derek C. Schrier’s Indaba Capital Management is one of the largest shareholders of the company. As of June 30, 2014, Indaba Capital Management owns over 600,000 shares of OHA Investment Corp (NASDAQ:OHAI).
Disclosure: None
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.
