Jun 17, 2016

Posted by in Stock Reports | 0 Comments

Insiders Are Buying These Shares: LendingClub Corp (NYSE:LC), Violin Memory Inc (NYSE:VMEM), SYSCO Corporation (NYSE:SYY)

Insiders Are Buying These Shares: LendingClub Corp (NYSE:LC), Violin Memory Inc (NYSE:VMEM), SYSCO Corporation (NYSE:SYY)

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 June 16, 2016 which involved Chen Tian Qiao, a 10% Owner at LendingClub Corp (NYSE:LC), who acquired 3,391,440 shares at $4.75 per share to put the total holding at 33,439,370 shares. Its shares currently owned by company management are 1.50% while institutional investors own about 94.70%. The 6-month change recorded in total insider ownership was 241.41%. On the other side, 4.31% change in total institutional ownership has been reported for the 3-month period.

Violin Memory Inc (NYSE:VMEM) saw an insider buy stock in the company on June 10. Grant Bruce Harvey, 10% Owner of the company, bought 128,000 shares for $0.72 per share worth a total of $92,421. After this insider buying, Grant Bruce Harvey now has a total stake of 12,024,768 shares in the company. Its shares currently owned by company management are 1.50% while institutional investors own about 28.40%. The 6-month change recorded in total insider ownership was 251.63%. On the other side, -15.97% change in total institutional ownership has been reported for the 3-month period.

SYSCO Corporation (NYSE:SYY) also received some insider trading action as MALONE JOHN C, who is the company’s Chairman of the Board added some 104,000 shares at a price of $38.08 per share to the holding that now comprises of 16,804,220 shares. Its shares currently owned by company management are 0.30% while institutional investors own about 79.80%. The 6-month change recorded in total insider ownership was -16.19%.

 

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