Five Stocks With Heavy Insider Trading
A company's management obviously has an inside view of their company. Investors may do well to pay attention to insider transactions made by management, because they may suggest how the company is faring behind the scenes. Here are five companies that have seen insider transactions recently:
Cryolife (NYSE: CRY): Jon Salveson, a director at Cryolife, bought 25,000 shares at a cost of $119,800 last thursday. Another director, Ronald Elkins, bought 3,000 shares worth $13,700 on June 1.
Cryolife is a biological medical device company. It closed at $4.92 on Friday, compared to $4.44 last Monday.
Geeknet (NASDAQ: GKNT): Kenneth Langone, chairman of the online networking company, has bought a total of 2,736 since June 1.
Since his last trade, the stock is down around 3%. GKNT is trading near $17.40. The company's had a net loss the past three years.
Arqule (NASDAQ: ARQL): Last Wednesday, The company's CEO, Paolo Pucci, bought 4,754 shares at a cost of $29,700. On the same day, Brian Schwartz, the Chief Medical Officer bought 4,700 shares, and Peter Lawrence, President and COO, bought 1,000 shares.
Since their purchases, ARQL is up nearly 3%. Arqule recently released positive results for a drug that treats liver cancer.
Brocade Communication Systems (NASDAQ: BRCD): Brocade's CEO, Michael Klayko bought 50,000 shares at $4.39 on June 5. The purchase was made at a total cost of $219,500.
Brocade has recently seen quarter two profits that were up 51%, as its margins improve. BRCD closed at $4.65 yesterday.
Pac Sunwear of California (NASDAQ: PSUN): On May 30, 2012 Pac Sunwear's president and CEO, Gary Schoenfeld, bought 147,548 shares at a price of $1.47. This purchase had a total cost of $216,896.
Pac Sunwear trimmed its losses in the first quarter on improved sales and margins. PSUN is trading at $1.71, almost 3% up from yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.