Tuesday 4/21 Insider Buying Report: SIEB, MS (Nasdaq.com)
At Siebert Financial, a filing with the SEC revealed that on Thursday, Gloria E. Gebbia bought 2,181,621 shares of SIEB, at a cost of $5.60 each, for a total investment of $12.22M. Gebbia was up about 15.7% on the buy at the high point of today’s trading session, with SIEB trading as high as $6.48 at last check today. Siebert Financial is trading up about 2.7% on the day Tuesday. This purchase marks the first one filed by Gebbia in the past year. And on Friday, Director Stephen J. Luczo bought $734,871 worth of Morgan Stanley, buying 19,000 shares at a cost of $38.68 a piece. Before this latest buy, Luczo made one other purchase in the past year, buying $2.65M shares for a cost of $53.00 each. Morgan Stanley is trading off about 1.3% on the day Tuesday. Investors can bag MS at a price even lower than Luczo did, with the stock trading as low as $37.18 at last check today which is 3.9% below Luczo’s purchase price.
Regeneron Pharmaceuticals Inc (REGN) EVP General Counsel and Secret Joseph J Larosa Sold $3.3 million of Shares (Guru Focus)
EVP General Counsel and Secret of Regeneron Pharmaceuticals Inc., Joseph J Larosa, sold 5,789 shares of REGN on 04/20/2020 at an average price of $562.31 a share. The total sale was $3.3 million. Regeneron Pharmaceuticals Inc is an integrated biopharmaceutical company. It discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions.
Experts Suggest Financial Reforms as Insider Trading Questions Engulf Congress (GrayDC.com)
WASHINGTON (Gray DC) – After lawmakers make questionable trades ahead of and during the coronavirus crisis, Congress may choose to limit its own access to Wall Street. Securities insiders on the left and right argue reform is past due. In the halls of power on Capitol Hill, lawmakers frequently learn secret information sure to move the world’s financial markets once that knowledge eventually goes public. Acting on insider info is illegal – but trades aren’t always scrutinized. “Members of Congress are not having to pre-clear their trading activity despite this wealth of information they have that nobody else does,” said Tyler Gellasch. As a former Democratic senate-staffer, securities lawyer, and SEC regulator Tyler Gellasch knows the country’s trading laws inside-and-out.
SEC Issues $5 Million Whistleblower Award (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission today announced a $5 million award to a whistleblower who provided significant information that led to a successful enforcement action. The whistleblower provided critical evidence of wrongdoing, which helped save time and resources in the SEC’s investigation, and the whistleblower suffered a unique hardship as a result of raising concerns internally. “The whistleblower award today is the seventh award the SEC has announced to individual whistleblowers in the last month,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “These awards demonstrate the valuable contributions whistleblowers make to the protection of markets and investors and we encourage people to come forward with information about possible securities law violations.”
Nike Inc (NKE) EVP, CAO & General Counsel Hilary K Krane Sold $990,000 of Shares (Guru Focus)
EVP, CAO & General Counsel of Nike Inc., Hilary K Krane, sold 11,000 shares of NKE on 04/17/2020 at an average price of $90 a share. The total sale was $990,000. Nike Inc designs, develops and markets footwear, apparel, equipment, and accessory products. It is a seller of athletic footwear and athletic apparel. It sells its products through NIKE-owned in-line and factory retail stores and internet websites.
