Monday 1/27 Insider Buying Report: FAST, TCON (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys. At Fastenal (FAST), a filing with the SEC revealed that on Thursday, Director Darren R. Jackson purchased 18,000 shares of FAST, at a cost of $35.57 each, for a total investment of $640,231. Bargain hunters can pick up FAST even cheaper than Jackson did, with shares changing hands as low as $34.63 in trading on Monday — that’s 2.6% below Jackson’s purchase price. Fastenal is trading off about 1.6% on the day Monday. This buy marks the first one filed by Jackson in the past year.
Michael Avenatti Googled ‘Nike Put Options,’ ‘Insider Trading’ Before Allegedly Trying to Extort $25M (Fox Business)
Disgraced attorney Michael Avenatti may have been looking into how to make stock market riches off his alleged attempt to extort up to $25 million from the sneaker giant Nike, court papers show. Avenatti, whose client Gary Franklin accused Nike of making and trying to conceal illegal payments to top basketball recruits, conducted Google searches related to “insider trading” and “nike put options” and visited the Nasdaq’s website to look into the pricing of those instruments, a motion letter sent to the court showed.
Bharara Task Force on Insider Trading Publishes Report Recommending Reforms to Insider Trading Law (GlobalBankingAndFinance.com)
The Bharara Task Force on Insider Trading issued its report today making recommendations to improve and clarify U.S. insider trading laws. The report follows a year-long study conducted by the Task Force, made up of experts in the field and members of the judiciary, private practice of law, academics, and former prosecutors and regulators. In addition to studying the history and current state of insider trading law “ both court decisions and efforts at legislative reform “ the Task Force received input from various outside groups with expertise and interest.
Insider Trading: January 27, 2020 (BIV.com)
Insider Stephen Paul Simpson, Director. Company: Silvercorp Metals Inc. (TSX:SVM). Shares owned: 804,084. Trade Date: January 15. Trade total: $115,638. Trade: Sale of 15,900 shares at prices ranging between $7.25 and $7.32 per share. Insider Jonathan Charles Timothy Awde, Director. Company: Gold Standard Ventures Corp. (NYSE:GSV). Shares owned: 1,182,844. Trade date: January 20, 21. Trade total: $69,042. Trade: Acquisition of 70,650 shares at prices ranging between $0.97 and $1 per share.
A Director at SYNNEX (NYSE: SNX) is Selling Shares (Analyst Ratings)
Today, a Director at SYNNEX (SNX), Dwight Steffensen, sold shares of SNX for $107K. Following Dwight Steffensen’s last SNX Sell transaction on July 08, 2019, the stock climbed by 47.1%. In addition to Dwight Steffensen, 3 other SNX executives reported Sell trades in the last month.
