After a very solid 2014, the stock market has started 2015 down as early earnings have disappointed and oil continues to plunge. One thing is for sure, with Treasury yields hitting all-time lows on the 30-year debt, one of the few places to be for investors may be the stock market. Insiders looking to add to their positions took advantage this week of the stock market weakness.
We cover insider buying every week at 24/7 Wall St., and company executives and 10% owners such as hedge funds and mutual funds put some money to work again as the market slid. Here are the top insider buying trades that hit our screens for this week.
Oasis Petroleum Inc. (NYSE: OAS) has been battered by the sell-off in oil, and a 10% owner took advantage. SPO Advisory bought a 2.2 million share block of stock at prices that ranged from $15.00 to $15.10. The total came to a whopping $32.5 million. SPO may want to buy more as the shares were trading on Friday’s close at $13.68.
Almost Family Inc. (NASDAQ: AFAM) is another company in which a 10% owner added to positions this week. North Tide Capital bought 97,200 shares of the stock at prices that ranged from $29.21 to 29.55. The total purchase came to $2.8 million. The company provides home health services in the United States. Shares closed trading on Friday at $30.87, so a well-timed purchase.
CareDx Inc. (NASDAQ: CDNA) also had a 10% owner acquire stock this past week. Neil Gagnon bought a block of 122,318 shares at prices between $6.88 and $7.20. The total purchase came to $865,000. CareDx develops, markets and delivers a diagnostic surveillance solution for heart transplant recipients. The stock ended the week at $6.94.
Trans World Entertainment Corp. (NASDAQ: TWMC) also had an individual who is a 10% owner add to holdings this week. Lloyd Miller bought 268,607 shares at $3.17, for a total purchase of $852,000. The company operates as a specialty retailer of entertainment products, including video, music, electronics, trend items, video games and accessories. The stock closed Friday at $3.30.
Genuine Parts Co. (NYSE: GPC) saw the CEO make a sizable purchase. Thomas Gallagher bought 5,000 shares of the thinly traded company at $95.25. That cost him $476,000. The company distributes automotive replacement parts, industrial replacement parts, office products and electrical and electronic materials. The stock was trading at $97.10 at Friday’s closing bell.
Other stocks that saw insider buying this week included Alico Inc. (NASDAQ: ALCO), Superior Energy Services Inc. (NYSE: SPN), Resolute Energy Corp. (NYSE: REN), Regional Management Corp. (NYSE: RM) and J.G. Wentworth Co. (NYSE: JGW).
It is a positive sign to see 10% owners in oil stocks starting to add to positions. We will be tracking this sector closely for insider buying.