Jun 1, 2016

Posted by in Stock Market News | 0 Comments

Insiders Are Buying These Shares: Western Digital Corp (NASDAQ:WDC), Pandora Media Inc (NYSE:P), Opko Health Inc. (NYSE:OPK)

Insiders Are Buying These Shares: Western Digital Corp (NASDAQ:WDC), Pandora Media Inc (NYSE:P), Opko Health Inc. (NYSE:OPK)

As a general rule, insider buying shows management’s confidence in the company, and is considered a bullish sign—in other words a sign that stock prices are likely to go up. Conversely, insider selling is considered bearish—those in the know may be off loading their stocks in an expectation that prices will soon fall. So it pays to keep an eye on the activities of insiders.

Studies have shown that prompt and timely dissemination of insider transactions are profitable for investors, as insiders tend to beat the market. The odds in favor of an insider purchase being followed by further purchases are three times greater than the odds of a purchase followed by a sale.

Moving on to the first insider trade May 31, 2016 which involved MILLIGAN STEPHEN D, a Chief Executive Officer at Western Digital Corp (NASDAQ:WDC), who acquired 22,500 shares at $45.53 per share to put the total holding at 22,567 shares. Its shares currently owned by company management are 0.10% while institutional investors own about 77.10%. The 6-month change recorded in total insider ownership was 9.86%. On the other side, 10.51% change in total institutional ownership has been reported for the 3-month period.

Pandora Media Inc (NYSE:P) saw an insider buy stock in the company on May 31. CROSSLINK CAPITAL INC, Affiliate of Director of the company, bought 250,000 shares for $11.33 per share worth a total of $6,661,294. After this insider buying, CROSSLINK CAPITAL INC now has a total stake of 37,147 shares in the company. Its shares currently owned by company management are 1.70% while institutional investors own about 98.20%. The 6-month change recorded in total insider ownership was 16.42%. On the other side, 5.24% change in total institutional ownership has been reported for the 3-month period.

Opko Health Inc. (NYSE:OPK) also received some insider trading action as FROST PHILLIP MD ET AL, who is the company’s CEO & Chairman of the Board added some 20,000 shares at a price of $10.35 per share to the holding that now comprises of 6.20% shares. Its shares currently owned by company management are 20.30% while institutional investors own about 4.41%. The 6-month change recorded in total insider ownership was -4.15%.

 

Comments are closed.