Insider Buying In Chesapeake: Assessing What Happens Next (Seeking Alpha)
Chesapeake Energy (CHK) is testing December lows as wary investors try to price a company with over $10B in debt and a rising share count. Shareholders in Chesapeake Energy, hereby referred to as CHK have suffered a 45% sell-off over the last 6 weeks. Insider Buying, Insider Selling? According to an after hours Form 4 SEC filing today, Dominic Dell’Osso Jr. bought 50K shares and now holds over 2M shares. Here is the clip. CEO Robert Lawler also purchased 50K shares and now holds over 5 million shares.
Wednesday 5/29 Insider Buying Report: IDYA, LOW (Nasdaq.com)
On Tuesday, Ideaya Biosciences (IDYA)’s Director, John D. Diekman, made a $2.5M purchase of IDYA, buying 250,000 shares at a cost of $10.00 each. So far Diekman is in the green, up about 16.5% on their purchase based on today’s trading high of $11.65. Ideaya Biosciences is trading up about 1.3% on the day Wednesday. And at Lowe’s Companies ( LOW ), there was insider buying on Friday, by CEO Marvin R. Ellison who purchased 10,000 shares at a cost of $95.05 each, for a total investment of $950,538. Lowe’s Companies is trading up about 1.2% on the day Wednesday. Investors can pick up LOW at a price even lower than Ellison did, with the stock trading as low as $91.60 in trading on Wednesday which is 3.6% under Ellison’s purchase price.
A Director at Sonic Foundry (Other OTC: SOFO) is Buying Shares (Analyst Ratings)
Today, a Director at Sonic Foundry (SOFO), Mark Burish, bought shares of SOFO for $2.08M. Following this transaction Mark Burish’s holding in the company was increased by 30.81% to a total of $1.71 million. Currently, Sonic Foundry has an average volume of 4,900. In the last 30 days, insiders have sold $1.13M worth of SOFO shares and purchased $2.94M worth of SOFO shares. The insider sentiment on Sonic Foundry has been positive according to 14 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
McKesson Executives Reaped Personal Gains from Generics Price-fixing Scheme, Lawsuit Claims (Fierce Pharma)
So far, the massive generic drug price-fixing probe that’s wrapped up the biggest names in the business has seemingly centered on generic manufacturers. Now, an investor lawsuit says drug distribution giant McKesson is in the mix, too—and that executives personally profited off the scheme. In a lawsuit filed in San Francisco last week, McKesson shareholder Jean Henry says the company’s board and officers made misleading statements about the company’s performance amid a years-long stretch of price-fixing by generic drug companies. When the company’s shares were riding high thanks to higher drug prices, investors and board members dumped their holdings in a “massive insider trading binge.”
SEC Charges Investment Adviser With Fraud (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission today charged investment adviser Stephen Brandon Anderson with defrauding clients by overcharging advisory fees of at least $367,000. According to the SEC’s order, Anderson owned and operated River Source Wealth Management, LLC, a now-defunct registered investment adviser in North Carolina. River Source’s primary revenue stream was customer advisory fees. Customer agreements provided that those fees would be based on each customer’s assets under management. The SEC’s order finds, however, that in 2015 and 2016, Anderson overcharged a majority of his clients.
