Insiders at Murphy USA Inc. (MUSA) Keep Buying Shares, Noteworthy Insider Selling at Iconic Harley-Davidson Inc. (HOG), and Other Insider Trading

CEO of Largest U.S. Theater Operator Buys Shares Via Public Offering to Support Acquisitions-Led Growth Strategy

The most influential and important exec at AMC Entertainment Holdings Inc. (NYSE:AMC) piled up some shares this week. President and Chief Executive Officer Adam M. Aron snatched up 31,747 Class A shares on Monday at a price of $31.50 per share, a purchase that lifted his ownership to 51,747 shares. The CEO purchased the shares via an underwritten public offering, through which the company aimed to raise capital to repay outstanding bridge loans incurred in connection with the completed acquisition of Carmike Cinemas Inc. and use remaining proceeds to finance another freshly-announced acquisition.

Earlier this year, AMC Entertainment Holdings Inc. (NYSE:AMC), the largest movie exhibition company in the United States, agreed to buy Stockholm-based Nordic Cinema Group Holding AB for $929 million in cash. Nordic Cinema represents the largest cinema chain in the Nordic and Baltic countries and operates 68 theaters in around 50 cities. Credit analysts at Moody’s were not overly impressed with AMC’s plans to buy the largest theater chain in northern Europe (AMC plans to finance the deal with a mix of loans, debt and equity), as Moody’s put AMC on review for a downgrade. The company’s debt is currently rated B1, a highly speculative level on Moody’s ratings scale. The acquisition is anticipated to be closed by the end of June. Jim Simons’ Renaissance Technologies LLC was the equity holder of 1.24 million shares of AMC Entertainment Holdings Inc. (NYSE:AMC) at the end of December.

Board Member of Oilfield Services Companies Buys Shares

One member of Halliburton Company (NYSE:HAL)’s boardroom purchased some shares last week as well. Murry S. Gerber, who joined the company’s Board of Directors in January 2012, bought 5,350 shares on Friday at $57.11 apiece, along with an additional 40 shares for $56.96 each. Mr. Gerber currently owns an aggregate of 51,450 shares following these transactions.

Given that North American oil and gas companies have started boosting production again as crude oil prices seem to be stabilizing above $50 per barrel, analysts believe Halliburton Company (NYSE:HAL) represents the best-positioned oilfield services company to benefit from this development. Let us remind you that Halliburton paid Baker Hughes Incorporated (NYSE:BHI) a termination fee of $3.5 billion after terminating their merger agreement in late April 2016 due to challenges in obtaining regulatory approvals and unfavorable industry conditions, which significantly damaged deal economics. Halliburton shares are up 88% in the past year. Richard S. Pzena’s Pzena Investment Management owned 2.44 million shares of Halliburton Company (NYSE:HAL) at year-end.

Let’s head to the final page of the article, where we discuss fresh insider selling observed at two other companies.