Stocks Insiders Are Buying: At the end of this past week, a couple companies with notable insider buying activity were Public Service Enterprise Group Inc. (NYSE:PEG) and KV Pharmaceutical Co (OTCMKTS:KVPHQ). Regarding the former, two of Public Service’s directors disclosed transactions involving the purchasing of shares, and a KV Pharmaceutical director also initiated a buy.
David Lilley, a director at PSEG, bought some 785.5 shares of the company on Thursday at a price of $33.40 per share. At the same time, another director at the company, Thomas Renyi, disclosed that he was buying 729.4 shares, with a similar purchasing price. After the transactions, Lilley holds almost 18,500 shares of PSEG stock, while Renyi owns almost 29,000 shares. The energy company posted a net income of $333 million, equivalent to $0.66 per share, versus $211 million in the same quarter of last year.
Among the hedge funds we track, David Harding’s Winton Capital Management disclosed the largest stake in PSEG, good for about 1.1 million shares worth. It is followed by Jim Simons’ Renaissance Technologies and Glenn Russell Dubin’s Highbridge Capital Management, which own 548,000 and 413,600 shares, respectively.
Looking at KV Pharmaceutical, we already discussed Edward Mule and Silver Point Capital‘s decision to buy 11% of the company earlier this week; it recently emerged from bankruptcy. Later in the week, Ana Stancic disclosed that she was purchasing 57,500 shares at an average price of $1.30 a pop.
Check back here for more updates on stocks insiders are buying.