Time to Go Long These Three Stocks? Insider Buying Metric Suggests So; Valeant Pharmaceuticals Intl Inc. (VRX) Among Them

Moving on to the next potential buy candidate, Performance Sports Group Ltd (NYSE:PSG) saw one of its directors acquire stock this week. Specifically, Director Lawrence Lucchino purchased a 8,065-share stake on Tuesday at a price of $12.53 per share. The developer and manufacturer of high performance sports equipment and apparel has been struggling recently, as revealed by its earnings report for the fiscal first quarter that ended August 31. Performance Sports Group Ltd (NYSE:PSG) posted revenues of $175.0 million, compared to $197.1 reported a year ago. At the same time, the company’s net loss came to $4.4 million, compared to net income of $10.8 million reported a year ago. The strong U.S. dollar greatly impacted the company’s top- and bottom-lines, as it lowered the adjusted earnings per share figure by roughly 60% or $0.21 relative to the same period last year. The stock has lost 36% year-to-date, which might indicate that the Director acquired the block with the belief that they were undervalued. Amy Minella’s Cardinal Capital was bullish on Performance Sports Group Ltd (NYSE:PSG) at the end of the June quarter with a stake of approximately 742,000 shares.

Lastly, Skyline Corporation (NYSEMKT:SKY) had two insiders purchase shares this week. Chief Executive Officer bought a 10,000-share block on Wednesday at a price of $2.99 per share, and currently owns 11,000 shares. Similarly, Director John C. Firth acquired 3,000 shares on the same day for exactly $3 each, boosting his stake to 3,500 shares. These acquisitions came after the maker of manufactured homes and RV units revealed its earnings report for the first quarter of fiscal 2016 on October 15, which pleased the market. The shares of Skyline Corporation (NYSEMKT:SKY) have gained more than 23% since the earnings report, but are still 20% in the red year-to-date. The company posted net sales from continuing operations of $48.74 million, which decreased by 2% year-over-over. Even so, Skyline Corporation narrowed down its net loss to $834,000 from the $3.77 million figure registered a year ago. If one is considering pouring cash into the stock, please bear in mind the risks associated with trading low-priced stocks. Jeffrey Gendell’s Tontine Asset Management reported ownership of 390,000 shares in Skyline Corporation (NYSEMKT:SKY) through the 13F filing for the June quarter.

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