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Since my March 20 article titled "1 Pharmaceutical, 1 Technology And 1 Financial Stock With Recent Intensive Insider Buying," the stocks that I featured have performed as follows:

CompanyPrice 3/18Price 4/18Change
Navidea Biopharmaceuticals (NAVB)$2.78$2.53-9.0%
Park City Group (PCYG)$3.55$5.40+52.1%
JMP Group (JMP)$6.55$6.17-5.8%

In this article, I will feature three additional stocks that have seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. At least two purchasers increased their holdings by more than 10%.

1. InspireMD (NSPR), a medical device company, focuses on the development and commercialization of proprietary MGuard stent platform technology.

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Insider buying by insider (last 30 days)

  • Alan Milinazzo purchased 100,000 shares on April 16, pursuant to a public offering. Alan Milinazzo currently holds 490,494 shares or 1.6% of the company. Alan Milinazzo is President & Chief Executive Officer of the company.
  • Michael Berman purchased 30,000 shares on April 16, pursuant to a public offering. Michael Berman currently holds 30,000 shares or less than 0.1% of the company. Michael Berman serves as a director of the company.
  • James Loughlin purchased 15,000 shares on April 16, pursuant to a public offering. James Loughlin currently holds 15,000 shares or less than 0.1% of the company. James Loughlin was named to the Board of Directors in September of 2012 and serves as Chairman of the Audit Committee.
  • Sol Barer purchased 750,000 shares on April 16, pursuant to a public offering. Sol Barer currently holds 15,000 shares or less than 0.1% of the company. Sol Barer serves as a director of the company. Sol Barer is a biotechnology industry veteran, and the founder and former Chairman, President, COO and CEO of Celgene (CELG).

Insider buying by calendar month

Here is a table of InspireMD's insider trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
April 2013895,0000
March 201300
February 201300
January 201300

The month of April has seen all of the insider buying this year.

Financials

The company reported the fiscal 2013 second quarter, which ended December 31, 2012, financial results on February 2, with the following highlights:

Revenue$1.4 million
Net loss$1.9 million
Cash$5.4 million

On April 16, InspireMD announced the closing of an underwritten public offering of 12.5 million shares of its common stock at a price to the public of $2.00 per share. The company received net proceeds of approximately $22.6 million.

News

On March 15, InspireMD announced that the company received CE mark approval for its self-expanding Nitinol carotid Embolic Protection Stent [EPS]. This carotid embolic protection stent is based on the proprietary MicroNet mesh protection platform technology used to treat heart attack patients with InspireMD's commercially available coronary EPS stents, MGuard and MGuard Prime.

Competition

The stent industry is highly competitive. The bare-metal stent and the drug-eluting stent markets in the United States and Europe are dominated by Abbott Laboratories (ABT), Boston Scientific Corporation (BSX), Johnson & Johnson (JNJ) and Medtronic (MDT). Due to ongoing consolidation in the industry, there are high barriers to entry for small manufacturers in both the European and the U.S. markets. However, InspireMD believes that the European market is somewhat more fragmented, and small competitors appear able to gain market share with greater ease.

My analysis

There have been four different insiders buying the shares and there have not been any insiders selling the shares during the last 30 days. All directors and executive officers as a group own 28.7% of the company. There are two analyst buy ratings, zero neutral ratings and zero sell ratings with an average target price of $10.50. The company's pro forma net tangible book value per share of common stock as of December 31, 2012 after giving effect to the April offering is $0.57 per share. I have a cautiously bullish bias for the stock currently based on the intensive insider buying.

2. Semafo (OTCPK:SEMFF) operates as a mining company with gold production and exploration activities in West Africa.

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Insider buying by insider (last 30 days)

  • Benoit Desormeaux purchased 20,000 shares on March 25 - April 3, and currently holds 202,400 shares or less than 0.1% of the company. Benoit Desormeaux is the President & Chief Executive Officer of the company.
  • Jean Lamarre purchased 30,000 shares on April 2, and currently holds 135,000 shares or less than 0.1% of the company. Jean Lamarre is Executive Chairman of the Board.
  • Gilles Masson purchased 15,000 shares on April 16, and currently holds 70,000 shares or less than 0.1% of the company. Gilles Masson serves as a director of the company.

Insider buying by calendar month

Here is a table of Semafo's insider trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
April 201355,0000
March 201310,0000
February 201300
January 201300

The month of April has seen the most insider buying.

Financials

The company reported the full-year 2012 financial results on March 21, with the following highlights:

Revenue$388.5 million
Net loss$6.6 million
Cash$139.5 million
Gold production236,100 ounces

Outlook

The company's guidance for 2013 is as follows:

  • Production guidance of between 215,000 and 240,000 ounces of gold.
  • An overall average total cash cost of between $855 and $905 per ounce.

Upcoming milestones

  • South Sector oxide heap leach results - Q3 2013
  • Siou Sector reserves - Q3 2013
  • Begin Siou permitting process - Q4 2013
  • Objective: begin mining Siou in late 2014, early 2015
  • Ongoing exploration results

Competition

The mineral exploration and mining business is competitive in all of its phases. Semafo competes with numerous other companies and individuals, including competitors with greater financial, technical and other resources, in the search for and the acquisition of attractive mineral properties, equipment and increasingly, human resources. There is no assurance that Semafo will continue to be able to compete successfully with its competitors.

My analysis

There have been three different insiders buying the shares and there have not been any insiders selling the shares during the last 30 days. There are 14 analyst buy ratings, three neutral ratings and zero sell ratings with an average target price of $4.68. Semafo's gold reserves and resources decreased slightly to 6.6 million ounces in 2012. The stock is trading at a forward P/E ratio of 4.52. The company has a book value of $2.15 per share and the stock has a dividend yield of 2.30%. I have a long position in the stock currently.

3. Torstar Corporation (OTC:TORSF) engages in the media and book publishing businesses in North America and internationally.

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Insider buying by insider (last 30 days)

  • Peter Bishop purchased 3,415 shares on April 16, pursuant to a purchase/ownership plan. Peter Bishop currently holds 14,915 shares or less than 0.1% of the company. Peter Bishop is an insider of the company.
  • David Holland purchased 1,000 shares on April 16, pursuant to a purchase/ownership plan. David Holland currently holds 6,248 shares or less than 0.1% of the company. David Holland is the President and Chief Executive Officer of Torstar.
  • Ian McLeod purchased 3,350 shares on April 16, pursuant to a purchase/ownership plan. Ian McLeod currently holds 4,925 shares or less than 0.1% of the company. Ian McLeod is an insider of the company.

Insider buying by calendar month

Here is a table of Torstar's insider trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
April 20137,7650
March 201300
February 201300
January 201300

The month of April has seen all of the insider buying.

Financials

The company reported the full year 2012 financial results on March 6 with the following highlights:

Revenue$1.5 billion
Net income$103.2 million
Net debt$149.0 million

Competition

Competition for advertising and circulation revenue comes from free and paid local, regional and national newspapers, radio, broadcast and cable television, outdoor, direct mail, directories, websites, social media, applications for mobile devices, other communications and advertising media, and online advertising networks and exchanges that operate in Torstar's markets. The competition is generally based on audience levels, composition and demographics, price, service and advertising results. The extent and nature of such competition has intensified over the past few years as a result of the continued development of digital media alternatives and the fragmentation of audiences. In addition, there has been increasing consolidation in Canadian newspaper publishing, television, radio and other media and competitors increasingly have interests in multiple forms of media. These competitors may be more successful in attracting advertising revenue by bundling sales across television, radio and internet platforms and may have access to greater financial and other resources than what is available to Torstar.

My analysis

There have been three different insiders buying the shares and there have not been any insiders selling the shares during the last 30 days. The stock is trading at a P/E ratio of 5.51. The company has a book value of $9.32 per share and the stock has a dividend yield of 7.24%. I believe the stock is a good pick below the book value.

Source: 1 Publisher, 1 Gold Miner And A Medical Device Company With Recent Intensive Insider Buying