Insiders at Vuzix (VUZI) and Tiffany (TIF) Push Back in Wake of ‘Fake News’, Weak Earnings

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Tiffany & Co. (NYSE:TIF

Who Bought Shares: Director Francesco Trapani and Director James Lillie

How Many Shares Were Bought: 15,000 @ $98.11 and 5,000 @ $97.81, respectively

Date of the Transaction(s): March 20-22

Tiffany & Co. (NYSE:TIF)’s Disappointing Same-Store Sales Growth Doesn’t Deter Insiders: Two Tiffany Directors bought shares during the past trading week, taking advantage of a 5% decline in the stock last Friday after Tiffany’s latest quarterly results disappointed. Same-store sales grew by just 1% during the company’s fiscal fourth quarter, ended January, well off estimates of a 2.8% rise on a constant currency basis. Earnings guidance for the company’s 2018 fiscal year was also slightly lower at the mid-range than analysts had been predicting.

Counterfeiters Eating Into Tiffany & Co. (NYSE:TIF) Sales: As Business Insider reported on Tuesday, Tiffany and other luxury brands are embroiled in an all-out war with counterfeiters on Facebook Inc (NASDAQ:FB)‘s Marketplace. Facebook had removed over 200,000 listings of suspected counterfeit products from Marketplace within the first six months of 2017, while Tiffany itself reported having thousands of ads taken down that were selling counterfeit versions of its products. One seller found by Business Insider was selling nothing but counterfeit Tiffany bracelets.

Facebook is trying to spot likely fakes through machine learning, but many feel the company isn’t doing enough to actively police its Marketplace. Facebook stated that it will also begin asking some luxury goods companies for some form of further identification on their products that will make it easier to separate real ones from fakes.

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Tellurian Inc (NASDAQ:TELL)

Who Bought Shares: Bristol Investment Fund, Ltd.

How Many Shares Were Bought: 75,000 @ $7.08 per share

Date of the Transaction(s): March 20

Bristol Investment’s Insider Connection to Tellurian Inc (NASDAQ:TELL): The fund in question is affiliated with Tellurian Director Diana Derycz-Kessler and her spouse Paul Kessler, who has investment control over the shares held by the fund. The fund now owns 2.03 million Tellurian shares, while the Director owns 36,415 shares directly and another 613 shares indirectly.

$50 Million Investment Spurs Rally: This insider transaction came just a day before Tellurian Inc (NASDAQ:TELL) announced that it had received a $50 million investment from an affiliate of Bechtel Oil, Gas, and Chemicals. The investment implied a share price of $8.16 on Tellurian’s stock, about 20% higher than it traded at as of Wednesday’s close. Investors made up about half of that difference Thursday morning, sending shares up by 10% in response to the investment.

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Disclosure: None

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