Top 10 Market Movers With Insider Buying As Of June 8, 2018

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Includes: APPN, AYX, CPRX, DOVA, EOLS, EQT, HTA, HTLD, MB, MIC, PUMP, UAL
by: Filing Scanner

Summary

A list of the top 10 stocks in terms of total volume traded that also had insider buying.

We provide in-depth analysis and ratings of each transaction.

Only insider transactions that were executed on the open market are included in this list. Any sale that was triggered by an option exercise has been excluded.

There are many ways to use insider transactions to help guide your investing strategies that don't rely on just the dollar amount of the transaction. While dollar amount should always be considered when ranking an insider purchase, here are a few other things to consider:

  1. How much has the insider's total stake increased in the company after the purchase?
  2. How has the stock performed historically after this insider made a purchase?
  3. Have other insiders at this company also made purchases recently?

In this article, we will analyze the top 10 stocks in terms of total volume traded that also had an insider make a purchase of the stock on the open market (transaction code P on SEC Form 4). We will be ranking each insider purchase base on the following criteria:

  1. Did the insider increase his/her total holding size by a significant amount (over 15%)?
  2. What was the three-month return of the insider's last purchase (over 10% gain in 90 days)?
  3. Have other insiders at this company made purchases in the last 30 days (two other insiders)?

The goal of this exercise is to help determine the insider's confidence level in their company and to determine if you should be buying alongside them. We will be ranking each transaction on what we perceive the insider's confidence level to be using a scale of high, medium and low.

No. 1: ProPetro (NYSE:PUMP)

Trade Date Insider Name $ Value of Transaction Insider Title
6/07/18

Blackwell Pryor

$205,885 Director
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
77% N/A 0

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Low. Without any additional purchases being made by other insiders this purchase is a non-event and would not trigger a buy for us.

No. 2: Healthcare Trust of America (NYSE:HTA)

Trade Date Insider Name $ Value of Transaction Insider Title
5/08/18

Henson Daniel

$25,270 Director
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
6% -.5% 6

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Low. It appears that this cluster buying is in response to Spruce Point Capitals short report on the company's accounting practices. In these instances where you have 5 insiders buying on the exact same day for the exact same number of shares there are two possible scenarios. They are making the purchase because they are confident that the short report is untrue. The second scenario is that it is more of a show for investors to make them feel confident. This will be an avoid for us since there are much more cut and dry insider purchases than this.

No. 3: United Continental Holdings (NYSE:UAL)

Trade Date Insider Name $ Value of Transaction Insider Title
6/07/18

Shapiro Edward

$1,728,750 Director
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
24% 12.6% 0

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Medium. Without any additional purchases being made by other insiders this purchase is a non-event and would not trigger a buy for us.

No. 4: EQT Corporation (NYSE:EQT)

Trade Date Insider Name $ Value of Transaction Insider Title
6/06/18

McNally Robert Joseph

$204,720 SVP,CFO
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
14% 14.9% 0

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Low. Without any additional purchases being made by other insiders this purchase is a non-event and would not trigger a buy for us.

No. 5: Evolus (NASDAQ:EOLS)

Trade Date Insider Name $ Value of Transaction Insider Title
6/07/18

Romine Kristine

$62,780 Director
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
31% N/A 1

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Low. Without any additional purchases being made by other insiders this purchase is a non-event and would not trigger a buy for us.

No. 6: Macquarie Infrastructure (NYSE:MIC)

Trade Date Insider Name $ Value of Transaction Insider Title
6/07/18

Macquarie Infrastructure Management

$6,113,950 Director
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
2% N/A 0

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Low. Without any additional purchases being made by other insiders this purchase is a non-event and would not trigger a buy for us.

No. 7: Alteryx (NYSE:AYX)

Trade Date Insider Name $ Value of Transaction Insider Title
6/06/18

Abdiel Capital Management

$7,720,573 10% Owner
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
2% 48% 0

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Low. Ideally, we like to see multiple different insiders at the company buying before we would consider buying ourselves. In this case, we feel differently. Based on Abdiel Capitals track record with other companies that they are 10% owners at we feel that the price of Alteryx will continue to climb. Their other large insider purchases include buying Mindbody (MB) throughout 2016 and buying Appian (APPN) mid-2017. On a technical level though we would like to see Alteryx break through and hold the $39 resistance level that it has struggled to break through and hold on 3 different occasions before we would consider buying.

No. 8: Catalyst Pharmaceuticals (NASDAQ:CPRX)

Trade Date Insider Name $ Value of Transaction Insider Title
6/07/18

O'Keeffe Charles

$3,352 Director
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
0% 53.7% 1

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Low. With a purchase size this small it's hard to believe that this insider really has any confidence that the price is destined to go higher with any certainty.

No. 9: Heartland Express (NASDAQ:HTLD)

Trade Date Insider Name $ Value of Transaction Insider Title
6/06/18

Sullivan Michael John

$9,419 Director
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
9% N/A 1

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Low. Another low dollar transaction that shows no real confidence that the price will go higher.

No. 10: Dova Pharmaceuticals (NASDAQ:DOVA)

Trade Date Insider Name $ Value of Transaction Insider Title
6/06/18

Perceptive Advisors

$2,865,716 10% Owner
Change in Insider's Total Holding Insider's Previous Purchase 90-Day Return Number of Other Insiders at Company Making Purchases in Last 30 days
3% N/A 2

Based on the pre-set criteria, we would rank the insider's confidence that the price will increase in the following three months Medium. Based on these purchases we believe that the price will continue to climb.

As you can see, finding an insider transaction that meets even these basic criteria can be like finding a needle in a haystack. Along with the criteria we have used here, we also like to analyze the price action of the stock to help time the entry and take a deeper dive into the insider's previous returns following a purchase.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.