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Are These Insiders’ Sales Well-Timed? Only Time Will Tell!

Let’s not refocus our discussion on the insider selling activity at Oceaneering International (NYSE:OII). Chairman John R. Huff offloaded a whopping 200,000-share block on Tuesday at prices between $44.00 and $44.45 per share. After the recent sizable sell-off, the Chairman owns 78,196 shares. The shares of the oilfield provider of engineered services and products to the offshore oil and gas industry have lost 24% since the beginning of the year, which is not surprising given the challenging environment within this industry. At the end of October, the company reported third-quarter earnings per share (EPS) of $0.70 on revenue of $743.61 million, compared to EPS of $1.16 on revenue of $973.09 million reported in the same quarter a year ago. Furthermore, analysts anticipate even weaker financial figures in the upcoming quarters, which might somewhat explain the low valuation of the company at the moment. As of the end of the second quarter, 27 hedge funds observed by Insider Monkey have positions in the struggling company, which aggregately accumulate 4.20% of its outstanding shares. Ken Fisher’s Fisher Asset Management reported owning 689,503 shares in Oceaneering International (NYSE:OII) via the latest round of 13F filings.

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We will wrap up our discussion with the investigation of the insider selling activity at Royal Caribbean Cruises Ltd (NYSE:RCL). Director Eyal M. Ofer unloaded 22,020 shares on Friday and 112,980 shares on Tuesday at prices in the range of $98.00-to-$99.90 per share, remaining with 5,858 shares. Jorge Vilches, President and Chief Executive Officer of Pullmantur Cruises (one of Royal Caribbean Cruises’ six brands), discarded 1,035 shares last Monday at a sale price of $98.50 per share, reducing his stake to 12,485 shares. The shares of the cruise company are trading at an extremely high trailing P/E ratio of 38.42, but analysts and market participants have great expectations on the company’s forthcoming quarters. In fact, its forward P/E ratio of 15.93 (the ratio for the S&P 500 stands at 17.65) might actually suggest that the stock is slightly undervalued at the moment relative to the broader market. At the same time, it is not surprising to see insiders cashing out their holdings if considering that the shares of Royal Caribbean Cruises have advanced by more than 130% over the past two-year period. The number of hedge funds owning shares in the cruise company decreased to 43 from 49 during the second quarter. Van Schreiber’s Bennett Lawrence Management held a 106,541-share stake in Royal Caribbean Cruises Ltd (NYSE:RCL) on September 30, which represented its fifth-largest holding at the end of the third quarter (read more details).

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Disclosure: None

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