Sardar Biglari’s Cracker Barrel Insider Buys

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.

Center Bancorp (NASDAQ: CNBC): Three directors and the corporate secretary have bought up more than 79,000 shares in the past week. That was worth more than $80,000. The market cap of his New Jersey-based regional bank is $163.3 million. Its P/E and PEG ratios are less than the industry average and the dividend yield is 1.2%.

The share price is up more than 2% since the beginning of the year despite a recent pullback. Over the past six months, the stock has underperformed competitors New York Community Bancorp (NYSE: NYB) and Valley National Bancorp (NYSE: VLY).

See also: Center Bancorp Announces Appointment of Chief Lending Officer.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Cracker Barrel Old Country Store (NASDAQ: CBRL): Sardar Biglari purchased 51,000 more shares this week. That was worth more than $2.8 million. The Texas-based activist investor has spent more than $60 million on the stock so far this year. Cracker Barrel has a market cap of $1.3 billion. Its P/E ratio is less than the industry average and the return on equity is 28.3%.

Shares have traded mostly between $55 and $57 since late February, but the stock has outperformed competitors Denny’s (NASDAQ: DENN) and IHOP parent DineEquity (NYSE: DIN) over the past six months.

Glimcher Realty Trust (NYSE: GRT): A director and an executive vice president of this Columbus, Ohio-based REIT purchased 12,000 shares, worth about $205,000, this past week. It has a market cap of $860.7 million and a dividend yield of 3.9%. It is expected to report year-over-year EPS and sales growth for the fourth quarter on April 25.

The share price is up about 11% year to date and less than 3% below the 52-week high. But over the past six months, the stock has underperformed competitors such as CBL & Associates (NYSE: CBL) and General Growth Properties (NYSE: GGP).

See also: Glimcher Realty Trust Announces Pricing of 20 Million Common Shares.

Ladenburg Thalmann Financial Services (NYSE: LTS): Some 80,000 shares, worth more than $147,000, were purchased recently by the CEO, COO, two directors and an executive VP. The Miami-based investment bank has a market cap of $318.5 million and posted strong Q4 results due to an acquisition.

The share price has fallen more than 41% from the 52-week high back in late December, but it is still more than 39% higher than a year ago. Over the past six months, the stock underperformed competitors such as LPL Investment Holdings (NASDAQ: LPLA), as well as the broader markets.

See also: Biographical Profiles in Investing: Dr. Phillip Frost.

Opko Health (NYSE: OPK): The chairman, vice chairman and an executive VP have bought more than 150,000 shares in the past week. The chairman has been frequently buying shares since November. This Miami-based health care company has a market cap of $1.4 billion. Short interest is 19.8% of the float.

Shares have traded mostly between $4.50 and $5.50 since October, and the share price is about 3% lower that at the beginning of the year. Over the past six months, the stock has underperformed competitor Allergan (NYSE: AGN) and the broader markets.

See also: Opko Health Acquires Chilean Pharmaceutical Company.

Paramount Gold and Silver (NYSE: PZG): The CEO, CFO and a beneficial owner recently purchased more than 1.2 million shares, worth over $2.5 million. The mining company recently agreed to issue 8.9 million shares of common stock in a private placement transaction to fund its current exploration and development plans in Mexico and the U.S.

Shares jumped more than 9% in the past week, following the announcement, but the share price is still about 37% lower than a year ago. The stock has outperformed competitors such as Allied Nevada Gold (NYSE: ANV) over the past six months.

See also: Paramount Gold and Silver Finds Exceptional Grades and Widths.

ACTION ITEMS:

Bullish: Investors interested in exchange traded funds focused on insider sentiment might want to consider the following trades:

Bearish:

Traders may prefer to consider these alternative positions to some of the stocks listed above:

  • MAKO Surgical (NASDAQ: MAKO) is up more than 65% year to date.
  • Ruth’s Hospitality Group (NASDAQ: RUTH) is up about 47% year to date.
  • Pennsylvania Real Estate Investment (NYSE: PEI) is up about 44% year to date.
  • Molycorp (NYSE: MCP) is up more than 38% year to date.

This article is written by Nelson Hem. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

The 10 Biggest Tax Havens in the World to Stash Your Money

The 15 Most Murderous Countries in the World

10 Largest Colleges in the World: Bigger Isn’t Always Better

Comedians in Cars Getting Coffee: The 6 Comedians Seinfeld Needs to Interview

Easy Money: The 10 Most Successful Investors in the World Today

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!