Univest Corp. of PA (NASDAQ:UVSP) & Civeo Corp (NYSE:CVEO) are two stocks in which massive insider buying has been seen recently. Civeo Corp (NYSE:CVEO)’s stock plunged drastically to $12.84, on September 29, from its September 26 close of $25.47. On September 30, three insiders of the company acquired thousands of its shares. An insider of Univest Corp. of PA (NASDAQ:UVSP) has been purchasing huge quantities of the stock under his spouse name. Let’s take a closer look at each of these insider trades.
Civeo Corp (NYSE:CVEO) at current price is valued at $1.34 billion in market cap. Bradley J Dodson, President & CEO of Civeo Corp (NYSE:CVEO) purchased 24,000 shares of the company at an average price of $12.86 per share. With this purchase, Dodson now owns a total of 322,519 shares of the company. Two directors of the company, Mayank Ashar and Gary L Rosenthal also purchased 8,000 shares each at an average price of $12.81 and $12.21 respectively on the same day. Civeo Corp (NYSE:CVEO)’s shares plunged drastically on Monday September 29, after the company announced that it was abandoning its plans of becoming a REIT and will instead redomicile in Canada for saving on taxes. David Einhorn’s Greenlight Capital is one of the hedge funds that are bullish on the stock. The hedge fund bought 6.15 million shares of Civeo Corp (NYSE:CVEO) during second quarter of 2014. Based on last declared quarterly results, Civeo Corp (NYSE:CVEO) has an EPS of $1.27 and currently trades at 9.95 times earnings
Univest Corp. of PA (NASDAQ:UVSP) is a $307 million market cap, holding company for Univest Bank and Trust Co, a regional bank. On September 26, 29 and 30, Thomas Scannapieco, a director of Univest Corp. of PA (NASDAQ:UVSP) purchased several shares of the company under his Spouse’ name. On September 26, Scannapieco purchased 2,300 shares at an average price of $18.86 per share, on September 29 he purchased 6,000 shares at an average price of $18.85 per share, and on September 30he again purchased another 7,700 shares of the company at an average price of $19.05 per share. With these purchases, Scannapieco now owns a total of 33,480 shares of Univest Corp. of PA (NASDAQ:UVSP) through his wife, he also owns 11,020 shares of the company under his own name. Bernard Horn’s Polaris Capital Management and Ken Gray and Steve Walsh’s Bryn Mawr Capital are two of the largest shareholders in the company. As of June 30, 2014, Polaris Capital Management owns over 120,000 shares and Bryn Mawr Capital owns over 290,000 shares of Univest Corp. of PA (NASDAQ:UVSP). Based on last declared quarterly results, the company has an EPS of $1.32 and trades at 14.33 times earnings, very near to the average industry P/E of 14.35.
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.
