Top Insider Buys Highlight for the Week of June 26
The largest Insider Buys this week were for Fox Corp. (NASDAQ:FOX), Royalty Pharma PLC (NASDAQ:RPRX), Consolidated Edison Inc. (NYSE:ED) and Vistra Energy Corp. (NYSE:VST).
Fox executive chairman and CEO bought 49,498 shares
Executive Chairman and CEO Lachlan K. Murdoch bought 49,498 shares of Fox on June 20 for an average price of $28.32. The stock has fallen 9.07% since then.
Fox is an American television broadcasting company formed from the 2019 acquisition of 21st Century Fox by the Walt Disney Co. (NYSE:DIS). It was spun off from 21st Century Fox and its stock began trading on March 19, 2019. The company is owned by the Murdoch family through a family trust with 39% interest. The company has a market capitalization of $15.53 billion; as of June 26, it traded at $25.75.
On June 17, Fox announced that Emmy Award-winning creator Dan Harmon has entered a broadcast network-only exclusive direct animation deal with FOX Entertainment. Harmon will create and develop a comedy series targeted to premiere in the spring of 2022. FOX Entertainment will produce the series, with Bento Box Entertainment serving as the program's animation studio.
Royalty Pharma director bought 1,500,000 shares
Director William E. Ford bought 1,500,000 shares of Royalty Pharma on June 18 for an average price of $28. The share price has increased by 77.11% since then.
Royalty Pharma is an American biopharmaceutical company. The company has a portfolio of royalties which entitles it to payments based directly on the sales of many of the industry's leading therapies, including Xtandi, Tysabri, Gilead's HIV franchise, Januvia and Imbruvica. The company has a market capitalization of $30.1 billion; as of June 26, it traded at $49.59.
On June 18, Royalty Pharma announced the closing of the initial public offering of 89,333,920 shares of its Class A ordinary shares pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission at a price to the public of $28 per share. The size of the IPO was increased from the previously announced size and began trading on the Nasdaq Global Select Market under the ticker "RPRX" on June 16.
Consolidated Edison senior vice president and chief financial officer bought 2,000 shares
Senior Vice President and CFO Robert N. Hoglund bought 2,000 shares of Consolidated Edison on June 24 for an average price of $71.65. Since then, the stock has declined 0.52%.
Consolidated Edison is an American energy company that provides a wide range of products and services through a number of subsidiaries. Some of the company's subsidiaries include Con Edison Solutions, Consolidated Edison Company of New York Inc. and Orange and Rockland Utilities Inc. The company is a component of both the DJIA and the S&P 500. The company has a market capitalization of $23.81 billion; as of June 26, it traded at $71.28.
On May 20, Consolidated Edison announced it has invested $1.3 billion in its electric delivery systems to keep service reliable this summer. The company projects summer bills for New York City residential customers to be higher this summer due to more people staying home as well as increased supply charges by power generators. The company does not make a profit on these supply charges and has focused efforts on deferring these costs as customers struggle financially through the pandemic.
Vistra Energy director bought 10,000 shares
Director Arcilia Acosta bought 10,000 shares of Vistra Energy on June 22 for an average price of $19.58. The share price has slumped 7.41% since then.
Vistra Energy is an American energy company that provides services and products to 20 states and the District of Columbia, as well as markets in Canada and Japan. The company serves nearly 5 million residential, commercial and industrial retail customers with electricity and natural gas and offers over 40 renewable energy plans. The company has a market capitalization of $8.86 billion; as of June 26, it traded at $18.13.
On June 22, Vistra Energy announced the company is committing $10 million over the next five years to support the advancement of minority communities. The investment is consistent with the key focus areas of the company's giving policy and parallels the company's donations of over $30 million over the past few years to benefit low-income and minority communities.
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.
