Monday 3/30 Insider Buying Report: ABBV, NKE (Nasdaq.com)
At AbbVie, a filing with the SEC revealed that on Monday, VP, Controller Brian L. Durkin purchased 3,750 shares of ABBV, for a cost of $68.20 each, for a total investment of $255,755. So far Durkin is in the green, up about 11.8% on their purchase based on today’s trading high of $76.24. AbbVie is trading up about 3.1% on the day Monday. Before this latest buy, Durkin made one other purchase in the past year, buying $255,755 shares at a cost of $68.20 a piece. And at Nike, there was insider buying on Thursday, by Director John W. Rogers Jr. who purchased 2,500 shares for a cost of $84.22 each, for a total investment of $210,543. This buy marks the first one filed by Rogers Jr. in the past twelve months. Nike is trading up about 1.8% on the day Monday.
A Director at Range Resources (NYSE: RRC) is Buying Shares (Analyst Ratings)
Today, a Director at Range Resources (RRC), James Funk, bought shares of RRC for $54K. Following this transaction James Funk’s holding in the company was increased by 27.43% to a total of $252K. In addition to James Funk, 3 other RRC executives reported Buy trades in the last month. The company has a one-year high of $11.42 and a one-year low of $1.62.
Justice Department Investigating Lawmakers for Possible Insider Trading (The Wall Street Journal)
The Justice Department is examining whether lawmakers traded ahead of the market turmoil caused by the coronavirus pandemic based on confidential briefings they received, according to a person familiar with the matter. As part of that inquiry, the FBI has reached out to Sen. Richard Burr (R., N.C.), said the person.
Notable Insider Buys In The Past Week: GM, Oracle And More (Benzinga)
Insiders continued to take advantage of fallen share prices last week. Here are some of the most noteworthy insider purchases reported in the past week. Westlake Chemical Corporation: WLK 3.65% had a 10% owner pick up 420,000 shares of this Houston-based company for $34.30 to $43.03 each. That totaled over $16.54 million. That beneficial owner is the general partner of Westlake’s parent company. President Edward Shoen and a beneficial owner of AMERCO UHAL 0.52% together picked up 15,600 shares of Reno, Nevada-based company. At $273.41 per share, that came to almost $3.92 million. They and other insiders were buying shares throughout February and March.
Insider Buying Reaches a 10-Year High (Guru Focus)
In an article published on March 25, I discussed how investors can learn from Exxon Mobil Corporation (NYSE:XOM) insiders and went on to analyze the company’s fundamentals to conclude that Exxon is significantly undervalued. A quick look at the activity of insiders in the last 30 days gives reason to believe that company executives are betting on the respective companies they represent like never before. This could be an indication of the equity market performance in the coming years. The subject of this analysis is to interpret the current trend of insider buying and selling using empirical evidence.
