Monday 3/2 Insider Buying Report: GEO, KKR (Nasdaq.com)
At GEO Group, a filing with the SEC revealed that on Wednesday, CEO George C. Zoley purchased 250,000 shares of GEO, at a cost of $16.17 each, for a total investment of $4.04M. Bargain hunters can bag GEO even cheaper than Zoley did, with the stock changing hands as low as $14.85 in trading on Monday — that’s 8.2% below Zoley’s purchase price. GEO Group is trading up about 2.1% on the day Monday. Before this latest buy, Zoley made one other purchase in the past twelve months, buying $4.5M shares for a cost of $16.96 each. And on Friday, Chief Financial Officer Robert H. Lewin purchased $1.42M worth of KKR, purchasing 50,000 shares at a cost of $28.38 each. This purchase marks the first one filed by Lewin in the past twelve months. KKR is trading up about 0.2% on the day Monday. So far Lewin is in the green, up about 2.5% on their purchase based on today’s trading high of $29.10.
Insider Weekends: Insiders Step Up Their Buying During Market Downturn (Seeking Alpha)
Insider buying increased significantly last week. Notable Insider Buys: Kinder Morgan, Inc., The GEO Group, Inc., Enterprise Products Partners L.P., AMERCO, and Bunge Limited. Notable Insider Sells: Enphase Energy, Inc., Extra Space Storage Inc., SBA Communications Corporation, Tellurian Inc., and American Electric Power Company, Inc.
In NY-27 Race, Candidate Wealth is Once Again an Issue (The Buffalo News)
WASHINGTON – The latest millionaire named Chris to run for Congress from New York’s 27th District isn’t nearly as rich as the last Chris, but he’s a bit wealthier than the first. State Sen. Christopher L. Jacobs has a minimum net worth of about $11.2 million, according to the personal financial disclosure statement he filed last year. The last such document filed by Rep. Chris Collins, who resigned last October in an insider trading scandal, showed him to be about four times richer than Jacobs.
Hersha Hospitality Trust (HT) CEO Jay H Shah Bought $239,200 of Shares (Guru Focus)
CEO of Hersha Hospitality Trust, Jay H Shah, bought 20,000 shares of HT on 02/27/2020 at an average price of $11.96 a share. The total cost of this purchase was $239,200. Hersha Hospitality Trust is a self-advised Maryland real estate investment trust. It invests in institutional hotels in urban markets including New York, Washington DC, and South Florida. Its portfolio consists of approximately 46 full service properties.
San Mateo County Commits to Brookfield Infrastructure Fund (Pensions & Investments)
San Mateo County Employees’ Retirement Association, Redwood City, Calif., committed $30 million to Brookfield Super-Core Infrastructure Partners Fund, said an announcement on the $4.3 billion pension fund’s website. The Brookfield Asset Management fund targets essential services such as utilities and transportation networks. The commitment was made at the board’s Feb. 25 meeting as part of the private real asset composite within the retirement association’s inflation hedge portfolio. Michael Coultrip, chief investment officer, could not be immediately reached to provide further information.
Insider Trading Report Missing Key Perspective, The Accused (Forbes)
Former US Attorney for the Southern District of New York, Preet Bharara, released a report by The Bharara Task Force On Insider Trading. Insider Trading Task Force in January. Bharara, now at NYU Law and host of the popular Podcast “Stay Tuned With Preet” assembled a team of judges, academics, regulators and former prosecutors to write a white-paper on issues involving the confusion of insider trading laws. Missing from the Task Force was anyone who had actually been charged with insider trading violations, violations the group concluded “lacked clarity, generated confusion and failed to keep up with the times.”
SEC Charges Former Corporate Executive with Insider Trading (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has announced insider trading charges against Bradley C. Davis, a former Vice President of Nordson Corporation, an Ohio-based manufacturing company. The SEC’s complaint alleges that in 2016, Davis regularly received confidential reports showing the strong financial performance of Nordson’s core adhesives division, the largest division at the company. Based on these reports, Davis allegedly purchased Nordson stock and options contracts prior to the company announcing favorable quarterly earnings that exceeded market expectations. According to the complaint, Davis sold his securities shortly after each of these earnings announcements, realizing over $850,000 in illicit profits from the rise in the Nordson’s stock price.
