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Top Insider Buys Highlight for the Week of Jan. 31

GuruFocus.com
·3 min read

The largest insider buys this week were for Delta Air Lines Inc. (NYSE:DAL), Huntington Bancshares Inc. (NASDAQ:HBAN), Freeport-McMoRan Inc. (NYSE:FCX) and Discover Financial Services (NYSE:DFS).

Delta Air Lines director bought 1,025 shares

Director Michael P. Huerta bought 1,025 shares on Jan. 28 for an average price of $57.38. The stock has declined 2.86% since then.


Delta is a major American airline, operating over 5,400 flights daily. The company serves an extensive domestic and international network, including 319 destinations in 54 countries on six continents. It has a market capitalization of $36.05 billion; as of Jan. 31, it traded at $55.74.

On Jan. 17, Delta Air Lines announced financial results for the full year and fourth quarter of 2019. Adjusted earnings per share for the quarter were $1.70, a 31% increase year over year. Total revenue increased 7% year over year to $11.4 billion. Non-fuel operating expenses on a unit basis increased 4.4% compared to the prior-year period.

Huntington Bancshares director bought 5,900 shares

Director Richard W. Neu bought 5,900 shares on Jan. 27 for average price of $13.52. The share price has increased 0.37% since then.

Huntington Bancshares is a major American bank holding company, with its banking subsidiary, the Huntington National Bank, operating 920 banking offices. The company is the second-largest originator of Small Business Administration loans in the United States. It has a market capitalization of $13.84 billion; as of Jan. 31, it traded at $13.57.

On Jan. 23, Huntington Bancshares announced the board of directors declared a quarterly dividend of 15 cents per share. The dividend is payable on April 1 to shareholders of record at the close of business on March 18.

Freeport-McMoRan director bought 45,000 shares

Director John Joseph Stephens bought 45,000 shares on Jan. 28 for an average price of $11.19. The stock has fallen 0.8% since then.

Freeport-McMoRan is an American international metals and mining company that operates large assets with proven and probable reserves of copper, gold and molybdenum. The company has a market capitalization of $16.11 billion; as of Jan. 31, it traded at $11.10.

On Jan. 23, Freeport-McMoRan reported fourth-quarter and full-year financial results for 2019. Net income totaled $9 million for the quarter, representing less than 1 cent per share. Consolidated sales for the quarter totaled 906 million pounds of copper, 317,000 ounces of gold and 22 million pounds of molybdenum. Operating cash flows for the quarter totaled $170 million, while capital expenditures for the quarter totaled $700 million.

Discover Financial Services CEO and president bought 15,000 shares

CEO and President Roger C. Hochschild bought 15,000 shares on Jan. 27 for an average price of $74.12. The share price has climbed 1.36% since then.

Discover Financial Services is an American financial services company that owns and operates Discover Bank, which focuses on providing checking and savings accounts, personal loans, home equity loans and credit cards. The company also owns and operates the Discover and Pulse networks and is a component of the S&P 500. It has a market capitalization of $23.29 billion; as of Jan. 31, it traded at $75.13.

On Jan. 28, Discover Financial Services announced that Amir Arooni, a banking technology leader with 30 years of experience, has been named the new chief information officer. Arooni will join the company's executive committee as an executive vice president effective April 2. He will be in charge of the company's technology organization.

For the complete list of stocks that were bought by their company executives, go to Insider Trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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This article first appeared on GuruFocus.