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Hedge Fund and Insider Trading News: Michael Novogratz, Bill Ackman, Kyle Bass, Kingstone Companies Inc (KINS), American Electric Power Company Inc (AEP), and More

The EVP & CFO of American Electric Power (NYSE: AEP) is Selling Shares (Analyst Ratings)
Today, the EVP & CFO of American Electric Power (AEP), Brian X. Tierney, sold shares of AEP for $377.8K. In addition to Brian X. Tierney, 10 other AEP executives reported Sell trades in the last month. This is Tierney’s first Sell trade following 3 Buy transactions.

Wednesday 5/15 Insider Buying Report: NS, GEL (Nasdaq.com)
At NuStar Energy, a filing with the SEC revealed that on Tuesday, Director William E. Greehey bought 68,075 shares of NS, at a cost of $28.38 each, for a total investment of $1.93M. Bargain hunters can buy NS even cheaper than Greehey did, with shares changing hands as low as $27.89 at last check today which is 1.7% below Greehey’s purchase price. NuStar Energy is trading up about 0.2% on the day Wednesday. Before this latest buy, Greehey purchased NS on 2 other occasions during the past year, for a total cost of $12.3M at an average of $23.94 per share. And on Friday, Director Kenneth M. Jastrow II purchased $1.08M worth of Genesis Energy, purchasing 50,000 shares at a cost of $21.54 each. Genesis Energy is trading down about 0.1% on the day Wednesday.

Kingstone Companies Inc (KINS) President & CEO Dale A Thatcher Bought $225,000 of Shares (Guru Focus)
President & CEO of Kingstone Companies Inc (NASDAQ:KINS) Dale A Thatcher bought 25,000 shares of KINS on 05/13/2019 at an average price of $9 a share. The total cost of this purchase was $225,000. Kingstone Companies Inc is a property and casualty insurance holding company. The company through its wholly owned subsidiary, Kingstone Insurance Company offers insurance policies to small and mid-sized businesses as well as to individuals. Kingstone Companies Inc has a market cap of $109.310 million; its shares were traded at around $10.15 with and P/S ratio of 0.89. The dividend yield of Kingstone Companies Inc stocks is 3.94%. Kingstone Companies Inc had annual average EBITDA growth of 36.50% over the past ten years.

CMA Penalises Nairobi Bond Trader Sh208m for Insider Trading (BusinessDailyAfrica.com)
The Capital Markets Authority (CMA) has fined a Nairobi bonds trader a total of Sh208 million for engaging in insider trading in Treasury bonds between 2016 and 2017. CMA said Wednesday in a statement that Mr Rodrick Muhoro, a bond trader has been found guilty of dealing with privileged (non-public) information on bond trades, which he used to front-run the market and make dual trades in order to profit at the expense of other investors. The financial penalty is twice the amount of benefit that Mr Muhoro received from the irregular trading in the fixed income securities that CMA said amounted to Sh104 million.

Insider Trading: A Stricter Diktat On Trading Window (Bloomberg)
A recent circular from the stock exchanges mandating the period during which the trading window will have to be shut has perturbed market participants. The market regulator’s rules on insider trading say that designated persons of a company cannot trade in its securities when, as per the compliance officer, they can be reasonably expected to be in possession of unpublished price sensitive information.

SAT Drops SEBI’s Insider-Trading Charge, Penalty Against Piramals (TheHinduBusinessLine.com)
The Securities Appellate Tribunal (SAT) on Wednesday dropped SEBI’s insider-trading charge and penalty against Piramal Enterprises Ltd (PEL) and its promoters Ajay and Swati Piramal and their daughter Nandini Piramal. It found no misuse of unpublished price sensitive information (UPSI) by the promoters. Converting SEBI’s monetary penalty into a mere warning in its order, SAT said: “SEBI is a watchdog, not a bulldog.”

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