Thursday 8/1 Insider Buying Report: LGND, TSLA (Nasdaq.com)
At Ligand Pharmaceuticals, a filing with the SEC revealed that on Wednesday, Director Jason Aryeh purchased 4,004 shares of LGND, for a cost of $99.22 each, for a total investment of $397,287. Bargain hunters are able to buy LGND at a price even lower than Aryeh did, with the stock changing hands as low as $93.31 in trading on Thursday which is 6.0% below Aryeh’s purchase price. Ligand Pharmaceuticals is trading up about 5.3% on the day Thursday. Before this latest buy, Aryeh purchased LGND on 5 other occasions during the past twelve months, for a total investment of $215,120 at an average of $110.20 per share. And at Tesla, there was insider buying on Monday, by Director Robyn M. Denholm who purchased 1,000 shares for a cost of $232.72 each, for a total investment of $232,720.
The COO of Subsidiary of First American Financial Corporation (NYSE: FAF) is Selling Shares (Analyst Ratings)
Yesterday, the COO of Subsidiary of First American Financial Corporation (FAF), Christopher Michael Leavell, sold shares of FAF for $580.2K. Following Christopher Michael Leavell’s last FAF Sell transaction on May 16, 2019, the stock climbed by 3.1%.
Northrop Grumman Corp (NOC) CEO and President Kathy J Warden Sold $2.4 million of Shares (Guru Focus)
CEO and President of Northrop Grumman Corp, Kathy J Warden, sold 6,837 shares of NOC on 07/29/2019 at an average price of $353.46 a share. The total sale was $2.4 million. Northrop Grumman Corp offers portfolio of capabilities and technologies to deliver products, systems and solutions for applications to government and commercial customers. It provides products, systems and solutions in autonomous systems. Northrop Grumman Corp has a market cap of $59.04 billion; its shares were traded at around $348.96 with a P/E ratio of 17.07 and P/S ratio of 1.84. The dividend yield of Northrop Grumman Corp stocks is 1.40%.
SEC Data in Insider Trading Investigations (Law.com)
Recent U.S. Securities and Exchange Commission enforcement actions charging senior lawyers at Apple and SeaWorld with insider trading provide reason to dust off company insider trading policies and assess whether updates or additional training are needed. As sanctuaries for corporate America’s most valuable confidential information, law departments are among the first places regulators look when trying to determine the source of a trader’s material nonpublic information.
Vaccinex Inc (VCNX) President and CEO Maurice Zauderer Bought $750,002 of Shares (Guru Focus)
President and CEO of Vaccinex Inc., Maurice Zauderer, bought 183,824 shares of VCNX on 07/30/2019 at an average price of $4.08 a share. The total cost of this purchase was $750,002. Vaccinex Inc has a market cap of $52.803 million; its shares were traded at around $4.60 with and P/S ratio of 71.90. GuruFocus has detected 2 severe warning signs with Vaccinex Inc.
Hedge Fund Fever Fuels Surging Growth at Brazil Asset Manager (Bloomberg)
Few firms have benefited as much from Brazil’s hedge fund renaissance as Kinea Investimentos Ltda. Assets under management at Kinea, which is owned by Itau Unibanco Holding SA, have surged fivefold since the end of 2016, to 62.1 billion reais ($16 billion) as of June. The firm’s hedge fund division propelled much of that growth after Kinea brought in new blood to overhaul operations in 2015. The Kinea Chronos FIM hedge fund ranked No. 1 out of 151 similar funds for net inflows in the first six months of this year, according to data compiled by Bloomberg.
CFTC Charges Trader with Spoofing in Financial Futures Markets (HedgeCo.net)
(HedgeCo.Net) The U.S. Commodity Futures Trading Commission today issued an order filing and settling charges against Benjamin Cox, a trader and CFTC-registered floor broker based in Chicago, Illinois, for engaging in spoofing in the Chicago Mercantile Exchange (CME) E-mini S&P 500 and E-mini Nasdaq 100 futures markets. James McDonald, CFTC’s Director of Enforcement, said, “As this case shows, the CFTC will vigorously pursue actions against individuals, as well as entities, who engage in the unlawful practice of spoofing. We will continue to work closely with our regulatory partners, as we did in this case, to protect the integrity of our markets.”
