Insiders have turned a bit more cautious according to recent data. The 4 week average in buying dipped a bit to $32.37MM from $37.1MM. Sellers remained extremely heavy as insiders sold over $735MM in stock. Sellers have been extremely high in comparison to buyers throughout the entirety of the rally off the March lows.
$27MM of the insider buying included more purchases from Nelson Peltz who continues to gobble up shares of Legg Mason (LM). In addition, Saul Francis was a heavy buyer of BFS stock. It’s also interesting to see Jon Corzine put his money where his mouth is and purchases over $2.5MM worth of MF Global (MF) where he is now CEO. More notable purchases (click to enlarge):