Top Berenberg Banker Investigated for Alleged Insider Trading (The Wall Street Journal)
FRANKFURT—German prosecutors are investigating a top executive of a prominent European bank for allegedly tipping off acquaintances on the share sale of a shipping company the bank was arranging. Prosecutors based in the German state of Hamburg are probing whether Hendrik Riehmer, managing partner of Hamburg-based Berenberg Bank, leaked insider information that led two people he knew to gain €3.2 million ($3.6 million) from the trading of shares in shipping company Hapag-Lloyd AG.
Monday 3/4 Insider Buying Report: ETM, CXO (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. On Friday, Entercom Communications’ Chairman Emeritus, Joseph M. Field, made a $1.26M purchase of ETM, buying 200,000 shares at a cost of $6.32 each. Entercom Communications is trading up about 0.7% on the day Monday. Before this latest buy, Field purchased ETM at 23 other times during the past year, for a total cost of $47.6M at an average of $8.24 per share.
Insider Buys Of The Week: Cott, Hain Celestial, Kinder Morgan (Benzinga)
Conventional wisdom says insiders and 10 percent owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty. Here’s a look at a few notable insider purchases reported in the past week.Hain Celestial: Hain Celestial Group Inc HAIN 0.16% saw a director make a couple of notable share purchases this past week. At $19.17 to $19.42 apiece, the total of about a million shares acquired totaled nearly $19.38 million. His stake was listed as more than 2.3 million shares, compared with more than 106 million of them outstanding.
Ex-Morgan Stanley Broker Gets 18 Months in Prison for Insider Trading (OnWallStreet)
A former Morgan Stanley broker was sentenced to 18 months in prison for his role in a multi-million dollar insider trading scheme, according to federal prosecutors. Michael Siva, who had previously pleaded guilty in October 2018, used code words and other tactics to keep the scheme undetected by his employer, authorities say. Siva, 57, of Morristown, New Jersey, had been registered with Morgan Stanley from 1996 until his termination in August 2017 from the firm for allegedly engaging in insider trading, according to a note from the wirehouse on his FINRA BrokerCheck report.
XBiotech Inc (NASDAQ:XBIT) Insider Trading Activity – Major Shareholder Bought 45,574 shares of Stock (MarketExclusive)
Insider Trading Activity For XBiotech Inc (NASDAQ:XBIT): Fondation Rennes , Major Shareholder of XBiotech Inc (NASDAQ:XBIT) reportedly Bought 45,574 shares of the company’s stock at an average price of 8.14 for a total transaction amount of $370,972.36.
