CEO Leroy Nosbaum brought 27,000 shares at $37.3092 on Oct 28th.
1. He can't sell for 6 months. So he has locked up over a million dollars, not just in one asset class, but in one asset - his own company.
2. A CEO can always talk to his head of sales and knows very well what the future sales look like; he sees the orders coming in for the next quarter.
3. Nobody allocates over a million dollars to one particular thing unless the probability of success is extremely high. To have made that kind of money in the past and continue to invest in this manner, he is probably expecting at least a 50% return.
President Rene Robichaud purchased 43,131 shares at an average price of $23.72 on Sept. 19th and Sept. 20th, for $1,000,763,39.
Here's the link:
Previous poster valuequantz is correct.
CEO Michael Pearson did buy 6M worth, on Aug 11th.
Let's understand this. He's the CEO, he speaks to all of the senior vice presidents of all depts. and knows exactly where they stand. He knows the product pipeline better than you or I could ever know it. He knows the sales for this current quarter and the one's being booked for next quarter. He can't sell for 6 months, (SEC rule). He WILL make money on this. No insider buys 6 million of anything unless they are very, very sure of things. Perhaps it was the excessive, fear driven selling over the last month, perhaps some negative news, but he just brought $6m on the open market, no options flipping here, a direct open market purchase.
Here is the direct link to the sec.gov website:
Ex-Dividend date tomorrow, Aug 11th.
Wondering if we'll see any large block buys this morning? After all, the (admittedly) small dividend is still free money for holding for only one day, today.
I was not aware of that. Thank for the information.
I've been trying to match up Cascade's previous buys into RSG and AN over the last 12 months or so. Both have had their ups and downs, but generally, faired quite well.
WIW, it's below its book of $13.27. Any thoughts?
Bill Gate's investment vehicle, Cascade Investments, LLC, has been buying heavily into WIW.
1. Buys 21,815 shares at $12.5406 ($273,573.18) on July 12th, reported July 14th:
2. Buys 6,194 shares at $12.4981 ($77,413.23) on July 13th, reported July 15th:
3. Buys 14,000 shares at $12.50 ($175,000) on July 25th, reported July 27th:
4. Buys 22,100 shares at $12.5258 ($276,820.18) on July 26th, reported July 28th:
5. Buys 85,994 shares at $12.5368 ($1,078,089.58) on July 27th, reported July 29th:
6. Buys 87,567 shares at $12.5715 ($1,100,848.54) on July 28th, reported August 1st:
7. Buys 290,330 shares at $12.6001 ($3,658,187.03) on July 29th, reported August 2nd:
They are 10% beneficial owners already, and still buying.
CEO Louis Dambrosio brought 12,000 shares valued at $1,006,140.32 on March 1st.
1. He brought them on the open market.
2. No options flipping here, he paid about $83.84 per share. Just like you and me, after tax money.
3. No wealthy person puts 1million into the same stock, unless the liklihood of success is essentially 100%. It breaks all standard rules of investment.
4. He can't sell them for 6 months, SEC rules. So he must be convinced of the high probabilty of making money on his investment.
If you put 1 million into the same stock, it's the same as saying you couldn't find anything else in the country (including the 15,000 or so traded entities here in the States) worth a better investment.
What part don't you get?
Nobody puts in almost a million dollars into not just one asset class, but ONE stock, unless they are virtually 100% sure of it being a winner.
CEO's hear and see all in a company. Murray Kessler 'knows' something. He has to hold for 6 months, SEC rules. But he didn't flip options here, he didn't buy in a private placement at a special price, he didn't buy anything but plain old class A ordinary shares, and he brought them on the open market, at the going market price on Feb 18th at around $79.07/shr.
No wealthy person pays the same price as you and me unless it's a shockingly good bet.
He maybe just topping off his portfolio a bit, but with the dividend now $1.30/shr, he thought it was worth putting down almost an extra million after-tax dollars.
Thank you for the info.
While I agree it probably caused the drop, after registering for the dividend they can now sell to free up some money to go somewhere else, I am surprised the CEO brought 2 and 3 days before the ex-dividend date? Surely an astute person such as Richard Kinder would have guessed it would drop on the ex-dividend date?
I suspect he didn't care that much. Actual drop or rise amounts can't be predicted, so he didn't bother to factor in the ex-dividend date. He 'knows' is going up in the near future. We'll see.
On Jan 25th, Richard Kinder brought 13,900 shares at an average price of $64.77, for a total of $900,428.67. He can't sell for 6 months.
It is my experience when the CEO buys, you get in. No wealthy person spends 900k of their own personal money buying shares in their own company on the open market (no options flipping here), without expecting at least a 50% return 12 months later.