Friday 8/14 Insider Buying Report: RRR, HOG (Nasdaq.com)
On Wednesday, Red Rock Resorts (RRR)’s Chief Executive Officer, Frank J. Fertitta III, made a $6.65M buy of RRR, purchasing 450,000 shares at a cost of $14.79 each. So far Fertitta III is in the green, up about 6.7% on their purchase based on today’s trading high of $15.78. Red Rock Resorts is trading up about 2.8% on the day Friday. Before this latest buy, Fertitta III purchased RRR at 8 other times during the past twelve months, for a total cost of $35.06M at an average of $16.18 per share. And at Harley-Davidson (HOG), there was insider buying on Wednesday, by Chairman and Acting President Jochen Zeitz who bought 71,450 shares at a cost of $27.86 each, for a trade totaling $1.99M. Before this latest buy, Zeitz bought HOG on 2 other occasions during the past twelve months, for a total cost of $3.08M at an average of $20.66 per share. Harley-Davidson is trading off about 1.4% on the day Friday.
Zoom Video Communications Inc (ZM) CEO Eric S. Yuan Sold $33.2 million of Shares (Guru Focus)
CEO of Zoom Video Communications Inc., Eric S. Yuan, sold 140,286 shares of ZM on 08/12/2020 at an average price of $236.48 a share. The total sale was $33.2 million. Zoom Video Communications Inc has a market cap of $68.83 billion; its shares were traded at around $244.00 with a P/E ratio of 1435.30 and P/S ratio of 86.43. GuruFocus has detected 1 severe warning sign with Zoom Video Communications Inc.
Advance Auto Board Hit With Insider Trading, Stock Juicing Suit (Bloomberg Law)
The senior leaders of Advance Auto Parts Inc., North America’s top aftermarket car parts retailer, were hit with a Delaware lawsuit Friday claiming they spent years lying about its finances following a board coup by activist hedge fund Starboard Value LP while its CEO sold stock at inflated prices. Starboard-linked CEO Thomas R. Greco and board chairman Jeffery C. Smith, who is also Starboard’s CEO, ignored internal projections and “invented an earnings scenario” that was “a top down C-suite fallacy, a set of targets with no basis in reality,” the Chancery Court complaint says.
What Did This CEO Just Do with Personal Shares of Meritor (NYSE: MTOR)? (Analyst Ratings)
On August 12, the CEO & President of Meritor (MTOR), Jeffrey Craig, sold shares of MTOR for $6.41M. In addition to Jeffrey Craig, 2 other MTOR executives reported Sell trades in the last month. The company has a one-year high of $27.18 and a one-year low of $10.91. Currently, Meritor has an average volume of 427.22K. MTOR’s market cap is $1.82 billion and the company has a P/E ratio of 6.90.
Insider Trading has Become More Subtle (EconoTimes.com)
Insider trading comes in two main forms: arguably legal and clearly illegal. But, as with drugs in sport, it’s hard to tell when arguably legal ends and clearly illegal begins. It is generally accepted that it is wrong to buy shares in the company you run when you know something about it that the market does not. It’s especially wrong to buy shares when you are telling the market that things are much worse for the company than you know them to be.
