Tuesday 7/2 Insider Buying Report: MORF, KYN (Nasdaq.com)
At Morphic Holding, a filing with the SEC revealed that on Monday, Director Vikas Goyal bought 333,333 shares of MORF, for a cost of $15.00 each, for a total investment of $5M. Goyal was up about 67.7% on the purchase at the high point of today’s trading session, with MORF trading as high as $25.15 at last check today. Morphic Holding is trading up about 1.9% on the day Tuesday. And on Friday, President James C. Baker purchased $305,234 worth of Kayne Anderson MLP Investment, purchasing 20,000 shares at a cost of $15.26 a piece. Before this latest buy, Baker purchased KYN on 4 other occasions during the past twelve months, for a total investment of $1.17M at an average of $14.68 per share. Kayne Anderson MLP Investment Company is trading off about 0.3% on the day Tuesday. Baker was up about 0.8% on the buy at the high point of today’s trading session, with KYN trading as high as $15.39 in trading on Tuesday.
The President & CEO of Acorn Energy (Other OTC: ACFN) is Buying Shares (Analyst Ratings)
Yesterday, the President & CEO of Acorn Energy (ACFN), Jan Loeb, bought shares of ACFN for $1.3M. Following this transaction Jan Loeb’s holding in the company was increased by 335.67% to a total of $2.21 million. In addition to Jan Loeb, 2 other ACFN executives reported Buy trades in the last month. Based on Acorn Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.33 million and GAAP net loss of $237K. In comparison, last year the company earned revenue of $1.23 million and had a GAAP net loss of $538K. Currently, Acorn Energy has an average volume of 6,398.
Chinese Stock Regulators Heighten Crackdown on Insider Trading (Ecns.cn)
China has been stepping up efforts to crack down on insider trading and other violations as part of a broader reform drive to ensure market order and protect investors. In the first half of the year, the China Securities Regulatory Commission (CSRC) imposed 63 administrative penalties that involved 27 companies and 181 individuals, with total fines of 985 million yuan ($143.91 million), jwview.com reported on Monday. The CSRC imposed eight bans on market entry in the first six months of the year, according to the report. There were 26 insider trading cases that led to 553 million yuan in penalties and accounted for 56 percent of the total amount, said the report, which noted that many of the penalties and more than half of the bans were related to insider trading.
CFO Insider Trading For July: 7.85% Total Returns Confirm Anomaly Persistence (Seeking Alpha)
The largest quartiles of CFO stock purchases are beating the S&P 500: April transactions by +8.67%, May by +4.07%, and June by +2.38%. Average total returns for all CFO insider trades have outperformed the S&P 500 in 3 months with +7.85%. The evidence validates published research showing that the CFO insider trading anomaly is a powerfully effective variable for short-term gains within 3 months. Research shows that one-quarter of the abnormal returns on CFO purchases were yielded in the first five days, and half of the abnormal returns were yielded in the first month” (Jeng, Metrick, and Zeckhauser, 2003).
Insider Trading: July 2, 2019 (BIV.com)
Insider: Mans Johansson, officer. Company: Canfor Corp. (TSX:CFP). Shares owned: 50,000. Trade date: June 24. Trade total: $540,000. Trade: Acquisition of 50,000 shares at a price of $10.80 per share.
