Massive Insider Selling at Northrop Grumman (NOC) and Chinese Biotech, While Insider Buying Observed at 3 Other Companies

Top Executive of This Defense Contractor Jettisons Sizeable Block of Shares

A sizable insider sale was registered at Northrop Grumman Corporation (NYSE:NOC) this past week. Thomas E. Vice, Corporate Vice President and President of Northrop Grumman’s Aerospace Systems sector, discarded 20,997 shares on Friday at prices ranging from $217.55 to $218.18 per share. Following the recent sale, Mr. Vice currently holds an ownership stake of 82,496 shares.

The shares of the leading global security company are 15% in the green in 2016. Just recently, the defense contractor raised its full-year earnings outlook after its second quarter financial results beat analysts’ expectations. Northrop Grumman Corporation (NYSE:NOC) anticipates earnings in the range of $10.75-to-$11.00 per share for the year, up from the previous forecast of $10.40-to-$10.70 per share. In 2015, the company won a big contract to build new bombers for the U.S. Air Force, worth around $80 billion. The number of billionaire hedge fund managers followed by Insider Monkey with long positions in Northrop Grumman jumped to ten from five during the second quarter. Bruce Kovner’s Caxton Associates reported ownership of 203,500 shares of Northrop Grumman Corporation (NYSE:NOC) through the latest 13F filing period.

Insiders Are Running Away From This Chinese Biopharmaceutical Company

Five different insiders of China Biologic Products Inc. (NASDAQ:CBPO) offloaded shares earlier this week, so let’s have a look at the most voluminous sales. To start with, Chief Financial Officer Ming Yang sold 21,092 shares on Monday at prices that fell between $124.00 and $125.13 per share, cutting his ownership to 24,782 shares. Ming Yin, Senior Corporate Vice President, discarded 20,334 shares on the same day at a weighted average price of $124.32 per share, which cut his overall holding to 16,467 shares. Corporate Vice President Gang Yang offloaded 8,400 shares on Monday at prices ranging from $124.00 to $125.13 per share. After the recent transaction, Mr. Yang currently owns 32,242 shares.

The Chinese biopharmaceutical company engaged in the research, development and manufacturing of human plasma-based biopharmaceutical products has seen its market cap decline by 14% since the start of the year. China Biologic Products Inc. (NASDAQ:CBPO)’s sales for the three months ended June 30 rose by 15.5% year-over-year to $91.4 million. Excluding foreign currency headwinds, the company’s sales would have increased by 23.4%. Jim Simons’ Renaissance Technologies was the owner of 229,000 shares of China Biologic Products Inc. (NASDAQ:CBPO) at the end of June.

Disclosure: None