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 in Resolute Forest Products and AVG Technologies

By

Plus, MainSource Financial Group and Unifi see purchases.

PrintPRINT
Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside sales and purchases filed with the SEC on Thursday, May 2, 2013.

Purchases: The Toronto-based Fairfax Financial Holding Ltd. (TSX:FFH) bought 3,380,300 shares of global forest products company Resolute Forest Products (NYSE:RFP) for $48,169,276. The company specializes in the production of newsprint, commercial printing papers, market pulp, and wood products. On April 30, the company reported earnings for Q1 2013 with a net loss of $5 million as compared to a net gain of $23 million in Q1 2012. On sales of $1.074 billion, the net loss amounted to $0.05 per share. Net income came in at $28 million, $0.30 per share. The stock's price initially decreased with the news, but is today up 7.04%, bringing year-to-date gain to 9.97% and one year gain to 16.39%.

Okumus Fund Management bought 35,600 shares of software and online services company AVG Technologies (NYSE:AVG) for $467,166, increasing its total stake to 5,461,017 shares. AVG specializes in the development and sale of Internet security and online service solutions software. On May 1, to support the company's next three years of financing requirements, AVG announced it had entered into a new $75 million credit facility with HSBC (NYSE:HBC). The deal consists of both a $25 million 6-month, US dollar loan and a $50 million 3-year, multi-currency revolving credit. On April 24, the company announced Q1 2013 earnings, with earnings per share increasing 70.59% to $0.58 versus $0.34 for Q1 2012. The consensus analyst estimate was $0.38 per share. The company's revenue rose 26.2% from the same quarter last year to $104.73 million, beating the estimate of $97.25 million. The company' stock price is up 22.6% since this time last year.

Thomas O'Brien, a Director of bank holding company MainSource Financial Group (NASDAQ:MSFG), bought 16,250 shares of company stock for $202,150. The company operates one subsidiary, MainSource Bank, and has branched in Indiana, Illinois, Ohio, and Kentucky. For Q1 2013, the company reported on April 22 a net income of $4 million, down from $6 million for Q1 2012, and earnings came in at $0.19 per share, down from $0.32 a year earlier. The stock's price has been on the decline since the report, but has been rallying since yesterday, up 4.83% today. Since last year, the price is up 12.52%.

At Unifi (NYSE:UFI), Director William Armfield IV bought 9,900 shares for $192,771 at $19.36 per share and Director Kenneth Langone bought 9,900 shares for $192,642 at $19.35 per share. Unifi sells fibers made of polyester and nylon filament to yarn manufacturers in a wide array of markets. For fiscal 2013 3Q, the Greensboro, NC-based company reported on April 24 an 81% decrease in net income to $1.4 million, with earnings dropping from $0.37 to $0.07. Despite this, the stock's price is up 11.01% since this time last month and 86.77% since this time last year.

Major news in insider trading from May 2 came on the purchase side. For sales, see the chart below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JB*
$48,169,276
2
BO
B
$467,166
3
CEO,CB,BO
B
$465,953
4
CEO,DIR,BO
JB*
$320,000
5
DIR
B
$202,150
6
DIR
B
$192,771
7
DIR
B
$192,642
8
DIR
B
$137,390
9
GC
JB*
$135,000
10
DIR
B
$122,900

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
PR,CEO,CB,BO
AS
$16,573,055
2
CB,CEO,DIR
S
$9,945,900
3
BO
S
$3,963,540
4
CB,DIR
S
$3,735,351
5
PR,DIR
AS
$3,684,885
6
VP,GC
AS
$3,544,537
7
CB,CEO,DIR
S
$3,290,250
8
DIR
S
$3,231,911
9
PR,COO
S
$2,210,830
10
VP,PR
S
$2,145,351

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."

Follow me on Twitter: @JoshWolonick and @Minyanville
< Previous
  • 1
Next >
No positions in stocks mentioned.
PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE