Warren Buffett May Have Ditched Airline Stocks and Spent $20 Billion on Stock Buybacks, Investor Chris Bloomstran Says (Business Insider)
Warren Buffett may have sold his airline stakes and spent more than $20 billion on stock buybacks last quarter, Chris Bloomstran, head of Semper Augustus Investments, told Business Insider. The billionaire investor and Berkshire Hathaway boss probably hasn’t bought many other stocks, and might struggle to strike bailout deals in the face of government aid and fierce competition, Bloomstran said. Berkshire wouldn’t hesitate to splurge $100 billion on Buffett’s long-awaited “elephant-sized acquisition.” “They would absolutely do it if the right elephant came along,” Bloomstran said.
Monday 4/27 Insider Buying Report: EVR, BMTC (Nasdaq.com)
At Evercore, a filing with the SEC revealed that on Thursday, Principal Financial Officer Robert B. Walsh bought 2,000 shares of EVR, at a cost of $50.14 each, for a total investment of $100,280. Evercore is trading up about 7.2% on the day Monday. Before this latest buy, Walsh bought EVR at 2 other times during the past twelve months, for a total investment of $663,980 at an average of $60.36 per share. And at Bryn Mawr Bank, there was insider buying on Thursday, by President of BMTC F. Kevin Tylus who purchased 3,000 shares at a cost of $26.34 each, for a trade totaling $79,032. This purchase marks the first one filed by Tylus in the past twelve months. Bryn Mawr Bank Corp is trading up about 9.6% on the day Monday. So far Tylus is in the green, up about 12.3% on their buy based on today’s trading high of $29.59.
A Director at SYNNEX (NYSE: SNX) is Buying Shares (Analyst Ratings)
Today, a Director at SYNNEX (SNX), Matthew Miau, bought shares of SNX for $714.7K. In addition to Matthew Miau, 3 other SNX executives reported Buy trades in the last month. Following Matthew Miau’s last SNX Buy transaction on April 02, 2020, the stock climbed by 0.5%. Based on SYNNEX’s latest earnings report for the quarter ending February 29, the company posted quarterly revenue of $5.26 billion and quarterly net profit of $123 million.
Notable Insider Buys Of The Past Week: AT&T, Halliburton And More (Benzinga)
Halliburton: Ahead of an announcement that Halliburton Company (HAL) would suspend operations in Venezuela, a director added 350,000 shares to his stake. At a share price of $8.68, that cost the director almost $3.04 million and raised their stake to nearly 575,000 shares. The stock ended last week’s trading at $8.86 per share, so that director’s purchase seems well-timed. Halliburton stock is up more than 44% since its year-to-date low in March. Darden Restaurants: Darden Restaurants, Inc. (DRI) CEO Eugene Lee and a number of executives and directors took advantage of a share offering at $58.50 apiece. Lee bought more than 25,600 shares for about $1.50 million. Altogether, around 77,800 shares were purchased by insiders last week. The shares popped more than 8% in the past week and closed most recently at $68.82 each. Darden Restaurants stock is more than 64% higher than the year-to-date low seen in March.
Daily Insider Ratings Round Up 4/24/20 (Seeking Alpha)
On Today’s Tables: Insider trades were rated Significant at: Rubius Therapeutics (RUBY); Royce Global Value Trust (RGT); Pioneer Floating Rate Trust (PHD); PGIM Global High Yield Fund (GHY); Evercore (EVR); Western Asset Global High Income Fund (EHI); BlackRock New York Municipal Bond Trust (BQH), and; Accelerate Diagnostics (AXDX). Insider trades were rated Nearly Significant at: Synnex (SNX), and; SunPower (SPWR). Insider trades were considered Insignificant at: Turning Point Therapeutics (TPTX); Boston Beer (SAM); Palomar (PLMR); Progyny (PGNY); PennyMac Financial (PFSI); Exelixis (EXEL); EverQuote (EVER); Emergent BioSolutions (EBS); Ciena (CIEN), and; AssetMark Financial (AMK).
