Office Depot Inc. (ODP): ODP is one of the largest suppliers of office products and services in the world. Insiders currently hold 5.2 million shares or 1.8% of outstanding shares. On Monday last week, Director Scott Hedrick bought 50,000 shares at $2.41 for $0.12 million. In addition, on Monday, he also exercised options and acquired 35,679 shares. After both transactions, Mr. Hedrick now owns 0.19 million shares, so the 85,679 share buy was a significant addition to his holdings in the company. Overall, insiders have been heavy buyers in the last three months, buying 150,000 shares and selling none, implying a confidence in ODP’s outlook while the shares trade near 30-month lows
Ok insider buying is so weak it hardly shows up. Their CEO bought 100K but also received 600K in options. If you really look at the transactions it is mostly options that are given to the insiders. They get them and then sell them. To them it is salary not an incentive to innovate. ODP need serious help in the leadership dept. I hope their present CEO can find it.