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 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

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!