Market Overview

Insider Buys Of The Week: Air Transport, Fidelity National, Revlon

Insider Buys Of The Week: Air Transport, Fidelity National, Revlon
  • Insider buying can be an encouraging signal for potential investors.
  • The CEO of a company with ties to Boeing made a notable purchase of shares last week.
  • Another insider bought some shares ahead of a just-announced merger.

Conventional wisdom says that insiders and 10 percent owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty.

Here's a look at a few notable insider purchases reported in the past week.


Revlon Inc (NYSE: REV) saw a director step up to the buy window last week. At $17.42 to $21.27 apiece, the 355,000 shares acquired via trust cost that director around $7.06 million. That brought his stake up to almost 45.6 million shares, which compares with less than 53 million shares listed as outstanding.

The beauty and personal care products maker posted disappointing earnings and warned of material weakness in its reporting last week. Shares ended Friday about 13 percent higher, closing at $21.68, so the director's purchases seem well timed. The consensus price target is only $18.00, but shares traded above $29 as recently as last November.

See Also: What Everybody Is Saying Ahead Of Apple's Streaming Video Event

Air Transport Services

In the past week, Air Transport Services Group Inc. (NASDAQ: ATSG) saw CEO Joseph Hete and two other insiders buy 33,200 shares altogether. At prices that ranged from $20.04 to $20.60 per share, that totaled over $668,000. The president and CEO's stake was last seen at almost 670,200 shares.

This Ohio-based airfreight and logistics company operates Amazon's fleet of Boeing cargo planes. The stock ended last week at $21.16 per share, above the purchase price range of Hete and the others. While the consensus target was last seen at $28.29, the stock has only traded as high as $21.87 in the past 52 weeks.

Fidelity National Information Services

A director scooped up more than 5,000 Fidelity National Information Servcs Inc (NYSE: FIS) shares last week. At an average of $107.22 apiece, that totaled more than $544,000. This Florida-based financial services technology company has less than 320 million shares outstanding.

Fidelity National's recently announced acquisition of Worldpay, Inc. (NYSE: WP) is expected to close in the latter half of 2019. Its share price ended Friday at $110.41, so again the timing of the buy looks fortunate. The stock hit a multiyear high of $112.17 last week, and analysts estimate the price will go as high as $121.60.


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