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Insiders Buy Shares at Retrophin, Reed's, and MRV Communications

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Wheeler REIT also sees a purchase.

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Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside purchases recently filed with the SEC.

Notable Purchases:
  • Martin Shkreli, CEO of biotechnology company Retrophin (OTCMKTS:RTRX), which focuses on discovering and developing treatments for rare and life-threatening diseases, bought 150,000 shares of company stock for $1,050,000
  • Jon S. Wheeler, CEO of Wheeler REIT (NASDAQ:WHLR), which was formed for the purpose of acquiring, financing, developing, leasing, owning, and managing income-producing assets, bought 235,000 shares of company stock for $982,300.
  • James Linesch, CFO of Reed's (NYSEMKT:REED), a developer, manufacturer, marketer, and seller of natural non-alcoholic and new-age beverages, candies, and ice creams, bought 25,974 shares of company stock for $207,273.
  • Lloyd I. Miller, III, a beneficial owner of MRV Communications (OTCMKTS:MRVC), a global provider of optical communications network infrastructure equipment and services to a broad range of telecom concerns, bought 17,485 shares of company stock for $187,780.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JB*
$9,000,000
2
CEO,DIR,BO
JB*
$1,050,000
3
CEO,CB,DIR
JB*
$982,300
4
CEO,CB,BO
B
$639,302
5
CFO
B
$207,273
6
BO
B
$187,780
7
CEO,DIR
B
$180,000
8
BO
B
$178,496
9
CEO,PR,DIR
JB*
$168,787
10
DIR,BO
B
$108,953

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
DIR,BO
JS*
$21,900,000
2
PR
AS
$8,560,078
3
DIR
S
$4,333,924
4
PR,CEO
S
$3,704,287
5
DIR
AS
$2,722,181
6
DIR
S
$1,522,660
7
CEO,DIR
AS
$1,440,000
8
DIR
S
$1,414,153
9
CTO
AS
$1,372,500
10
VP
AS
$1,009,858

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."
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No positions in stocks mentioned.
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