As we continue to track hedge funds’ and insiders’ moves, I came across three highly interesting insider purchases. TransDigm Group Incorporated (NYSE:TDG) and American Assets Trust, Inc (NYSE:AAT) witnessed millionaire insider purchases over the past few days. In this article, we will take a closer look at these transactions in order to elucidate if any of these companies deserve further research.
TransDigm Group Incorporated (NYSE:TDG)’s insiders were particularly active during the past week. On September 10, James Skulina, Executive Vice President, acquired 6,578 shares of Common Stock, for prices ranging from $187.71 per share, to $187.57 per share. Following this transaction, which totaled more than $1.23 million, the insider owns 26,578 shares, indirectly.
Opposite was the case of Raymond F. Laubenthal, President and COO. On September 15, Mr. Laubenthal sold 1,950 shares for a total price of $367,117.18. A few days earlier, the insider had sold 16,205 shares for prices ranging from $187.49 per share to $188.47 per share, and acquired the same amount, using stock options, for $13.37 per share. Following these transactions, the company’s President owns 42,519 shares, divided equally in three trusts.
TransDigm Group Incorporated (NYSE:TDG) is a $9.94 billion market cap designer, producer and supplier of engineered aircraft components for use on nearly all commercial and military aircrafts in service today. The company counts with the support of several major hedge funds, including Tiger Global Management’s star hedge fund Tiger Global, managed by Feroz Dewan, which last disclosed (for the second quarter of 2014) ownership of 2.54 million shares.
Another company that saw an insider purchase in the past few days is American Assets Trust, Inc (NYSE:AAT), a $1.44 billion market cap full service, vertically integrated and self-administered real estate investment trust. On September 12, Ernest S. Rady, Executive Chairman, Board Director and owner of more than 10% of the company’s outstanding stock, bought 400,000 shares of Common Stock, for $33.76 each. After having spent more than $13.5 million in stock, Mr. Rady owns 5.95 million shares indirectly, by holdings of diverse natures, and another 39,061 shares, directly.
The largest hedge fund shareholder (amongst those we track) at American Assets Trust, Inc (NYSE:AAT) is Israel Englander’s Millennium Management, which started a position in the company over the second quarter of the year, and now owns 96,686 shares of Common Stock, worth more than $3.3 million.
Disclosure: Javier Hasse holds no positions in any stocks or funds mentioned
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