Investing

Insider Buying Steady as 2015 Winds Down: Prospect Capital, comScore, Angie's List, ONEOK and More

2015 will end up being a year most investors want to forget. With stocks hitting all-time highs in the spring and then giving it all back in the fall in the first 10% correction in almost four years, breaking even is a win this year. Yet the ups and downs of 2015 didn’t keep executives and 10% institutional owners from buying shares, and this past week, which marked the end of 2015, was no exception.

We cover insider buying every week at 24/7 Wall St., and we like to remind our readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders, and 10% owners, have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains a positive indicator.

Here are some of the companies that reported notable insider buying this past week.

Prospect Capital Corp. (NASDAQ: PSEC) saw heavy buying again last week from top C suite executives. The chief executive officer and the chief operating officer again acquired shares of the company on a big scale. The pair bought a total of 1,078,924 shares at prices between $6.99 and $7.27 apiece. The total for the trade came to a smooth $7.7 million. Prospect Capital is a business development company that specializes in middle market, mature, mezzanine finance, later stage, emerging growth, buyouts, recapitalizations, turnaround, growth capital, development, subordinated debt tranches of collateralized loan obligations, cash flow term loans and bridge transactions. Shares closed trading most recently at $6.98.

Actuant Inc. (NYSE: ATU) was another company that saw top executives snagging shares this past week. The CEO, the chief financial officer and an executive vice president bought a combined 235,000 shares at prices that ranged from $22.97 to $24.44 per share. The total came to a whopping $5.6 million. The company designs, manufactures and distributes a range of industrial products and systems worldwide. The stock traded on Thursday’s close at $23.96.


comScore Inc.

(NASDAQ: SCOR) is another company that saw renewed insider buying last week. WPP, a 10% owner, bought an additional 54,206 shares of the company at prices that ranged from $40.05 to $41.38. The total for the buy came to $2.2 million. comScore provides digital media analytics products and services for content publishers, advertisers, advertising agencies and network operators primarily in the United States, Canada, Europe, Latin America and Asia. Shares traded at $41.15 last week’s close.

Angie’s List Inc. (NASDAQ: ANGI) also had a 10% owner adding shares this past week. TCS Capital Management bought an additional 98,124 shares at prices that ranged from $9.11 to $9.49. The total for the buy came to $918,000. Angie’s List operates a local services marketplace and consumer review site in the United States. The company provides a marketplace to research, shop for and purchase local services for home, health, and automotive service needs. The stock closed trading on Thursday at $9.35.

ONEOK Inc. (NYSE: OKE) had one of its executive vice presidents buying shares last week. That executive purchased a total of 15,000 shares at prices that ranged from $23.45 to $24.16. The total for the trade came in at $360,000. The company, through its general partner interests in ONEOK Partners, engages in the gathering, processing, storage and transportation of natural gas in the United States. Shares traded Thursday at $24.66.

These companies also reported insider buying this past week: Gigamedia Ltd. (NASDAQ: GIGM), Layne Christensen Co. (NASDAQ: LAYN) and ONEOK Partners L.P. (NYSE: OKS).

With another year in the books, investors look to 2016 for an improving economy, which can help corporate earnings grow. One thing is for sure, insiders will be at it again this year, and we will track the buys and sells every week here at 24/7 Wall St.