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Trading community is always interesting in getting inside scoop about a company. While it is difficult for an outsider to get a valuable inside information in advance, you can use some proxy to simulate the experience. One such proxy is to track insider transactions such as stock buying and selling done by the company management and key personnel.
It is generally assumed that such insiders have some important information resulting in their decision to buy or sell the stock. Generally, insider purchases are considered to be more reliable indicator than insider selling transactions, as the key managers may decide to sell the shares to fund their personal expenses or for diversifying their holding. So, let’s take a look at the major insider purchases done in the past week:
DaVita Inc. (NYSE:DVA): Berkshire Hathaway seems to be keen on accumulating DaVita stock, which recently touched its new 52 weeks high. Warren Buffett’s investment vehicle added 63,928 shares of the company to its portfolio on October 16. The transaction was made at an average price of $109.56 and it amounted to $7 million in total. Berkshire has been regularly upping its stake in the company. According to the filing made by Berkshire, it bought 282,403 shares of DaVita for about $28.8 million. DaVita is engaged in the business of providing kidney dialysis services. It is based out of Denver in Colorado and was formed in 1994. DaVita Inc. is currently trading at $111.54, up 0.74 percent from its previous close of $110.72. The stock is trading at the Price Earnings ratio of 20.46. It has traded in the range of $66.56 and $113.48 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $111.4 and 50 days moving average price of $110.99. The company has healthy market capitalization of $10.55 billion and it reported its latest earnings per share at $5.44.
CytRx Corporation (NASDAQ:CYTR): The company recently announced its underwritten public offering. The company is offering 8 million shares of the common stock and the shares have been priced at $2.50 apiece. CytRx is planning to use the proceeds to fund the clinical development process of its drug candidates tamibarotene and aldoxorubicin. It will also use the proceeds to fund its general corporate expenses. Its 10% owner Bradford Patterson bought 1.2 million of the shares on October 18 at the average price of $2.50. The total transaction amounted to $3 million. CytRx is currently trading at $2.50, down 0.79 percent from its previous close of $2.52. It has traded in the range of $1.68 and $5.50 in the past 52 weeks. However, the stock is trading below its 20 days moving average price and 50 days moving average price of $2.50. The company also announced the sale of additional 1,200,000 shares to its underwriters. CytRx appointed Aegis Capital Corp. and Roth Capital Partner as its sole book running manager and co-lead manager respectively.
Tronox Incorporated (NYSE:TROX): The company stock is currently trading at $22.60, down 1.05 percent from its previous close of $22.84. The stock had opened at $22.79 and has traded in the range of $22.50 and $22.82 in the current trading session. The company CEO Casey Thomas bought 119,971 shares at $25.01 each. The total consideration for the transaction stood at $2.99 million. The company recently noted its formal opposition to an application filed for an injunction to halt its early phase construction at Fairbreeze mine project. The application was made by Mtunzini Conservancy and the project is located in South Africa. Tronox is involved in the business of producing and marketing titanium bearing mineral sand.
Cracker Barrel Old Country Store Inc. (NASDAQ:CBRL): The company saw Sardar BIlgari buying 34,000 shares at $66.67 for the total consideration of $2.26 million. The latest purchase is said to be an attempt from Sardar Bilgari to gain a seat on the board of directors. However, the company CEO Sandra B. Cochran issued a mail to its shareholders urging them to vote for company nominees instead of self nominated candidates Phil Cooley and Sardar Biglari. Cracker Barrel Old Country Store is currently trading at $64.97, down 0.08 percent from its previous close of $65.02. The stock is trading at the Price Earnings ratio of 14.73. It has traded in the range of $40.26 and $69.30 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $64.89 and 50 days moving average price of $64.87.
