Initial data indicates that insiders are more bullish now than at any time since the two weeks immediately following the Black Monday market crash of October 1987," wrote Ben Silverman, director of research at InsiderScore.com, in a Nov. 20 research report. The biggest buyers during that period were the officers of Carmel-based insurer Conseco Inc. Chairman Glenn Hilliard, CEO Jim Prieur, Chief Financial Officer Ed Bonach and two other officers bought a total of 316,000 shares in September after the company's investments were hammered by business failures in the financial sector. Conspicuously absent from any recent insider buying are some of Indiana's biggest corporate names, including Eli Lilly and Co., WellPoint Inc. and Simon Property Group Inc. That's not a great sign to Indiana...
When a company's managers or directors buy blocks of shares, it often means the company's fortunes are looking up. But insider buying is far from a perfect indicator. To profit from this information, you still need to be able to sort significant moves from false signals. Some things to keep in mind: Top execs know the most. Directors aren't always in the loop, although some can be well-informed, particularly if they are big shareholders or have significant experience in the industry.
Forbes Magazines DividendChannel.com took note Friday of what it called strong insider buying at Riverview Bancorp, Inc., Vancouver- based parent of Riverview Community Bank. Three board members made large stock purchases on three consecutive days last week, in what could be a sign that the stock is undervalued.
Attorney General Richard Blumenthal submitted testimony to a U.S. Senate subcommittee Wednesday advising it to look into a network of hospital executives and manufacturers of medical goods that "suggests insider dealings." Blumenthal Wednesday confirmed that he has issued "close to 50 subpoenas" since the summer to companies and individuals associated with the Healthcare Research and Development Institute in Florida. In his testimony, he described it as "a secretive for-profit company composed of a network of health care corporate executives as well as manufacturers and suppliers of medical and health care goods and services that may well raise anti-competitive concerns. At the very least, it suggests insider dealings - an insidious, incestuous, insider system - symptomatic of the GPO i...
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