Insider Buys: Blackrock, Fresh Del Monte, Opko Health

Insiders may sell shares for any number of reasons, but there is really only one reason insiders buy shares of a company — they believe the stock price will move higher and they want to profit from it. Pullbacks and sell-offs provide a perfect opportunity for investors who have faith in a company to snap up shares. Here are some stocks that have seen insider buying recently.

Avanir Pharmaceuticals, Inc.

Avanir Pharmaceuticals (AVNR) The CEO, a vice president and a director purchased 18,000 shares this week. That was worth more than $47,000. This California-based company focuses on therapeutic products for the treatment of central nervous system disorders. It has a market cap of $375.5 million. Short interest is 19.6% of the float. The share price has dropped more than 8% in the past month but is still up about 38% year to date. The stock has underperformed the likes of Bristol-Myers Squibb (NYSE: BMY) and Eli Lilly (NYSE: LLY) over the past six months (see also: Avanir Pharmaceuticals and Concert Pharmaceuticals Announce License Agreement)

BlackRock (BLK): Some 11,500 shares, worth more than $2.2 million, were purchased last week by one of the investment manager’s directors. The New York-based company has a market cap of $35.3 billion and posted better-than-expect Q4 EPS. Its long-term EPS growth forecast is 16.3% and the dividend yield is 3.1%. The share price pulled back a bit this past week but is still more than 11% higher year to date. Over the past six months, the stock outperformed competitors State Street (NYSE: STT) and UBS (NYSE: UBS), as well as the broader markets (See also: Citigroup Raises Target on BlackRock to $197)

Builders FirstSource (BLDR): Two directors and Warburg Pincus have bought up more than 374,000 shares recently. That was worth more than $1.1 million. The market cap of his building products manufacturer is $307.9 million and its long-term EPS growth forecast is 15.0%. It posted a narrower-than-expected loss in the most recent quarter. Shares have traded mostly between $2.80 and $3.20 since early February, but the share price is up almost 56% year to date. Over the past six months, the stock has outperformed the broader markets.

Cenveo (CVO): The CEO of this diversified printing company purchased 46,000 shares worth more than $200,000 this week. Other insiders bought shares throughout December. Cenveo has a market cap of $297.9 million and an operating margin better than its industry average. It posted better-than-expected Q4 EPS. The share price is up more than 38% year to date but still down more than 31% from the 52-week high. Over the past six months, the stock has outperformed competitors such as Quad/Graphics (NYSE: QUAD) and R.R. Donnelley (NASDAQ: RRD).

Fresh Del Monte Produce (NYSE: FDP): One director recently purchased more than 82,900 shares, worth over $7 million. Shares tumbled in late February after the company posted a wider fourth-quarter net loss due in part to economic weakness in Europe. The company has a forward earnings multiple that is less than the industry average P/E. Its dividend yield is 1.8%. Shares have traded between $22 and $23 since the decline and are down more than 10% year to date. The stock has outperformed Chiquita Brands (NYSE: CQB) and Dole Food (NYSE: DOLE) over the past six months.

Opko Health (NYSE: OPK): The CEO has been frequently scooping up batches of between 5,000 and 500,000 shares since November. This Miami-based health care company announced last week it bought a stake in BioZone Pharmaceuticals. Opko has a market cap of $1.4 billion. Shares have traded mostly between $4.50 and $5.50 since October. The share price has pulled back more than 8% in the past month. Over the past six months, the stock has outperformed competitor Allergan (NYSE: AGN), but its performance has been in line with the S&P 500.

This article is originally published at Benzinga.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!