Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Insiders Buy Shares at Churchill Downs, While Pacira Pharmaceuticals Sees a Sizable Sale

By

Plus, a purchase at Pacific Mercantile Bancorp.

PrintPRINT
Welcome to our daily round-up of top insider trades. Here's a look at the most significant inside sales and purchases filed with the SEC on Thursday, March 21.

Purchases: In insider buys, American businessman and racehorse owner Richard Duchossois, a Director of Kentucky-based Churchill Downs (NASDAQ:CHDN), bought 16,573 shares of company stock, worth $1,109,836. The company provides pari-mutuel horse racing, casino games, entertainment services, and a number of venues; it bears the name of the famous Thoroughbred racetrack where the Kentucky Derby is held annually.

At beauty products retailer and salon services company Ulta Salon, Cosmetics & Fragrance (NASDAQ:ULTA), Director Charles Philippin bought 10,000 shares of company stock, worth $754,400. In the last five years the stock's price has increased over 600% due to the popularity of its combination retail shop-salons: It sells cosmetics and fragrances as well as skincare and hair care products, but also offers full service salons at its American stores. This dual business model gives Ulta an upper hand over competitors like Estee Lauder (NYSE:EL). The state of the company, however, is uncertain, as CEO Chuck Rubin, responsible for balancing the company's sales growth and expansion, stepped down in February to take the position of CEO at crafts retailer Michaels (shares dropped 11% after the February 14 announcement). A replacement has not been named.

Clinton Group Inc., an employee-owned hedge fund sponsor and Director of California-based Pacific Mercantile Bancorp (NASDAQ:PMBC), bought 119,480 shares of company stock, worth $709,590. Pacific Mercantile operate as a holding company for Pacific Mercantile Bank, which provides services to small- and medium-sized businesses, professionals, and the general public in southern California.

Sales: In insider sales, HBM Bioventures (Cayman) Ltd., a subsidiary of Swiss venture capital company HBM Healthcare Investments (SWX:HBMN), which invest in emerging biotechnology and pharmaceutical companies, sold 1,818,200 shares of Pacira Pharmaceuticals (NASDAQ:PCRX), worth $50,921,651. Pacira is a global specialty pharmaceutical company that develops, commercializes, and manufactures products for use in hospital and ambulatory surgery centers. The company is currently developing Exparel, a long-acting anesthetic/analgesic for post-surgical pain management that provides significant pain relief for up to 72 hours after surgery. Exparel is expected to address an unmet medical need for a long-lasting non-opioid post-surgical painkiller as it gains approval for additional procedures.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR
B
$1,109,836
2
DIR
B
$754,400
3
DIR
B
$709,590
4
CEO,DIR,BO
JB*
$411,800
5
BO
B
$337,251
6
DIR
B
$99,840
7
VP,TR,CFO
B
$82,500
8
BO
B
$69,700
9
DIR
JB*
$68,994
10
DIR
B
$51,750

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JS*
$206,448,000
2
BO
JS*
$167,700,000
3
BO
AS
$50,921,961
4
DIR,BO
JS*
$32,033,620
5
PR,CEO,DIR
AS
$22,935,910
6
BO
S
$5,226,125
7
DIR
S
$5,220,516
8
CEO,PR,DIR
AS
$5,215,428
9
VP,SO
S
$3,963,387
10
CFO,TR
S
$3,502,486

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

An important note from Jonathan Moreland, founder of Insider Insights:

In a victory for common sense, it has been proven profitable -- by both academic studies and (more importantly) the experience of your fellow professional investors -- to monitor the trading behavior of company executives, directors, and large shareholders in the stocks of firms of which they're registered as "insiders."

Please note, however, that the lists above are strictly factual; they are not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

At InsiderInsights.com, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

Jonathan Moreland is also the author of "Profit From Legal Insider Trading."
< Previous
  • 1
Next >
No positions in stocks mentioned.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE