Insiders Spend Millions Purchasing Shares of Republic Services, Prospect Capital Corporation, & Spectrum Brands Holdings

Tracking insider transactions is an important component of our investment strategy. While performing this task, I came across three very interesting (and big) insider purchases. Let’s take a look at them:

Republic Services, Inc. (NYSE:RSG) is a provider of services in the domestic non-hazardous solid waste industry, with a market cap of $14.2 billion. After a year and a half with no insider purchases, last Thursday, June 12, Bill Gates’ Cascade Investments LLC, more than 10% shareholder, acquired 221,382 shares of Common Stock for prices ranging from $36.57 per share to $36.74 per share. Having spent more than $8.1 million on stock in one day, Cascade Investments owns 89,856,142, which accounts for more than 25% of the company’s Class A Common Stock.

In addition to this group, several funds are long on this company. Mario Gabelli’s Gamco Investors last declared holding more than 2.56 million shares, worth about $87.5 million, while D. E. Shaw disclosed ownership of approximately 2.2 million shares.

Republic Services, Inc. (NYSE:RSG)

Prospect Capital Corporation (NASDAQ:PSEC) is a $3.5 billion market cap financial services company that primarily lends to and invests in middle market privately-held companies. On June 12, the company saw intense insider activity as well: four insiders spent more than $1.59 million in stock. John F. Barry, CEO, bought 100,000 shares of Common Stock for $10.33 per share and now owns over 4 million shares of the company; Brian H. Oswald, CFO, COO and Secretary, purchased 30,000 shares for $10.25 each and now holds 121,700 shares; Grier M Eliasek, COO, acquired 24,00 shares for $10.28 each and currently owns 167,196 of them; and Eugene Stark, Board Director, bought 1,000 shares for $10.27 each.

On top of all this insider bullishness, hedge funds also seem to love this company. Over the last reported quarter, John Overdeck And David Siegel’s Two Sigma Advisors, increased its stake in Prospect Capital by 2337%, to 3.31 million shares, worth about $35.8 million by the end of Q1.

Finally, there’s Spectrum Brands Holdings, Inc. (NYSE:SPB), a $4.2 billion market cap consumer products company that saw a 10% owner group (which includes a couple of Board Directors*) spend $3.80 million in its stock. On June 11, the group acquired 50,000 shares of Common Stock for an average price of $75.90 per share, and now owns over 30.9 million shares. This makes Phil Falcone’s Harbinger Group, the largest hedge fund shareholder (amongst those we keep track of) by far, holding a stake worth more than $2.4 billion.

 

* “Mr. David M. Maura and Mr. Omar Asali serve on the board of directors of the Issuer. Mr. Maura is an Executive Vice President and a director of HGI. Mr. Asali is President and a director of HGI. As a result, the persons listed herein may be deemed directors of the Issuer by deputization” (SEC.gov).

 

Disclosure: Javier Hasse holds no position in any stocks mentioned

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

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Lists

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 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

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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!