Mid-cap stocks can offer great investment opportunities when caught in time. But, how can you choose the right stock? Methods abound, and some are more effective than others. One that has proven useful in our case is filtering by insider bullishness. Let’s, thus, take a look at two mid-cap companies that saw their insiders buy their stock over the past few days.
AOL, Inc. (NYSE:AOL) is a $3 billion market cap media and technology company that provides internet content with brands, products and services that it offers to consumers, advertisers, publishers and subscribers. On May 8, Timothy Armstrong, Chairman and CEO, acquired 55,600 shares of Common Stock, for $36.08 per share, and now owns 932,111 shares of the company directly, and another 709,157 shares, indirectly. His total holding of AOL, Inc. (NYSE:AOL) is valued at more than $62 million.
Other prominent investors with big stakes in the stock are David Cohen and Harold Levy (Iridian Asset Management), who last reported holding 5.12 million shares –by the end of Q1 2014. D. E. Shaw and Jean-Marie Eveillard also have big bets placed on AOL, Inc. (NYSE:AOL). They own about 2.46 million shares and 1.96 million shares, respectively.
The second company in this list is F.N.B. Corp (NYSE:FNB), a $2.06 billion market cap financial holding and bank holding company. On May 7th, John Stanik, Board Director, bought 4,350 shares of Common Stock, for $12.10 per share. He now owns 13,283 shares of the company.
On top of Mr. Stanik’s bullishness, several major hedge funds hold long position in the stock. The largest hedge fund shareholder is Ken Griffin’s Citadel Investment Group, which holds 3.78 million shares, after it last declared having upped its stakes by 28%. Second in line is Jim Simons’ Renaissance Technologies, with 316,878 shares, trailed by Israel Englander’s Millennium Management, with 304,366 shares. All of the aforementioned funds increased their stakes in F.N.B. Corp (NYSE:FNB) over the last reported quarter. Other prominent investors who initiated a position in the stock recently are Steven Cohen and Paul Tudor Jones.
Disclosure: Javier Hasse holds no position in any stocks mentioned