- Like other investors, insiders are positioning themselves for the near year.
- Intrexon and Prospect Capital are among those that have seen notable insider buying lately.
- Strong insider buying is often considered a positive sign for investors.
Accelerate Diagnostics
Two directors acquired Accelerate Diagnostics Inc AXDX shares at $17.00 apiece last week. The total for those more than 2.3 million shares cost them more than $40 million, and the buys followed the announcement of a secondary offering earlier in the month. The market cap of this in vitro diagnostics company is about $1.1 billion, but note that short interest is more than 17 percent of the float. The short sellers have watched the share price jump more than 23 percent in the past month, and late on Monday the stock was trading at $21.51. See also: FXCM Spikes After Insiders Buy InAircastle
Japanese trading company Marubeni continues scooping up batches of jet-rental company Aircastle Limited AYR, as it has done for more than a year. That included more than 356,000 of them in the past week at prices that ranged from $19.46 to $20.33 apiece, or a total of around $7.1 million. Aircastle's market cap is about $1.7 billion, and its shareholders enjoy a dividend yield of about 4.8 percent. The share price has yet to fully recover from a post-earnings sell-off in early November. The stock was trading at $20.16 on Monday afternoon.Intrexon
Recently, the chief executive bought about $6.6 million worth of Intrexon Corp XON, or more than 124,000 shares at $29.85 apiece. Earlier in the month, the biotech company announced a joint venture to produce a chemical used in the manufacture of spandex and polyester. Note that this $3.6 million market cap company has short interest of more than 12 percent of its total float. The stock has lost more than half of its value since last August. Shares were trading at $31.40 per share Friday afternoon, so the CEO's move appears to be well-timed.Prospect Capital
The CEO, CFO and COO together picked up more than a million Prospect Capital Corporation PSEC shares recently at between $6.21 and $6.60 per share. The total for those transactions came to almost $7 million. The CEO's stake rose to more than 7 million shares. This business development company has a market cap near $2.4 billion and a dividend yield of about 15.0 percent. Shares saw a multiyear low closing price earlier this month, but they have recovered more than 7% since and were trading on Monday at $6.77. These appear to have been well-timed buys. See also: Wynn CEO Buys 1 Million Shares; Is Current Valuation Indicative Of 'Unearthed Value'?Restaurant Brands International
Two directors bought more than 593,000 shares of this operator of the Burger King and Tim Horton's chains. The shares ranged in price from $34.30 to $36.52, and the transactions totaled more than $20 million. Burger King continues to take pokes at larger rival McDonald's. The market cap of Restaurant Brands International Inc QSR is around $8.0 billion, and the dividend yield is about 1.4 percent. Shares were trading at $36.37 on Monday, up less than 3 percent in the past week while the broader markets lost ground. At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Posted In: NewsInsider TradesAccelerate DiagnosticsAircastleIntrexonProspect CapitalRestaurant Brands International
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