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Buy Low With Insiders: Three Struggling Companies Registering Heavy Insider Buying

Let’s now turn our focus on the insider buying activity at hybrid real estate investment trust HCP Inc. (NYSE:HCP). Director James P. Hoffmann grabbed 10,000 shares on Wednesday at an exact price of $33 per share and currently holds a stake of 38,878 shares. Moreover, James Justin Hutchens, Executive Vice President and Chief Investment Officer – Senior Housing and Care, acquired 3,000 shares on the same day at prices in the range of $33.08-to-$33.09 per share and upped his holdings to 15,915 shares. Executive Vice President – Senior Housing Kendall K. Young added 2,900 shares to his holdings last Friday at a weighted average price of $33.95 and currently owns 34,449 shares. The stock has lost nearly 25% since the beginning of the year and is currently trading at levels it has not traded since 2011. Just recently, investment bank Jefferies cut its price target on the REIT that serves the healthcare industry to $39 from $40 and reiterated its ‘Hold’ rating, citing grim outlook on senior housing due to worries about oversupply. Meanwhile, 19 hedge funds monitored by our team owned the stock at the end of the June quarter. Jeffrey Furber’s AEW Capital Management reduced its stake in HCP Inc. (NYSE:HCP) by 1.14 million during the third quarter, remaining with 3.02 million shares.

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Last but not least, we will look into the insider buying activity at Blucora Inc. (NASDAQ:BCOR), which has seen seven insiders purchase stock this week. So let’s take a look at the most noteworthy purchases. To start with, President and Chief Executive Officer William J. Ruckelshaus bought 7,230 shares on Wednesday at a price of $10.36 per share, lifting his stake to 205,009 shares. Director Lance G. Dunn added 10,000 shares to his stake on Tuesday that now consists of 38,699 shares. The 10,000-share block was purchased at $10.08 apiece. Christopher W. Walters, another Member of Blucora’s Board of Directors, acquired 10,400 shares on the same day for $10.25 each and currently owns 28,092 shares. Chief Legal and Administrative Officer Mark Finkelstein bought 2,500 units of common stock on Monday at a price per share of $10.17, enlarging his position to 20,391 shares. Lastly, Director David H. S. Chung purchased 10,000 shares on Monday at a weighted average cost of $10.14. After the recent transaction, the Director owns 39,192 shares. The provider of Internet-related services has seen its shares drop 26% since the beginning of the year. At the same time, 21 hedge funds and other investors within our database had the stock in their portfolios at the end of the second quarter, amassing 10.70% of the company’s shares. Jim Simons’ Renaissance Technologies had 551,400 shares of Blucora Inc. (NASDAQ:BCOR) in its portfolio on June 30.

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