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Sunday, May 09, 2021 4:27:47 PM
Insider Weekends: Tench Coxe Purchases $5 Million Worth Of APAM
By: InsideArbitrage | May 9, 2021
Welcome to edition 567 of Insider Weekends. Insider buying increased significantly last week with insiders purchasing $46.32 million of stock purchased compared to $5.99 million in the week prior. Selling also increased significantly to $3.07 billion compared to $1.15 billion in the week prior.
Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week dropped to 66.28. In other words, insiders sold more than 66 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 192.36.
Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers, funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.
Notable Insider Buys:
1. Artisan Partners Asset Management Inc. (APAM): $56.48
Director Tench Coxe acquired 98,000 shares of this publicly owned investment manager, paying $51.06 per share for a total amount of $5 million. These shares were purchased indirectly by Mr. Coxe’s spouse.
The last time an insider of APAM purchased shares was near the depths of the pandemic related bear market in March 2020. Mr. Coxe purchased 150,000 shares back then at an average price of $21.02. The stock bottomed a little below $18 just days after his purchase and more than tripled from those levels.
APAM was founded in 1994 and as of March 31, 2021 had $162.9 billion in assets under management across a group of business as outlined below. The company has a specific focus on institutional clients and international investments. Mr. Coxe has been involved with the business for a very long time serving as an advisor to APAM from 1995 until it went public in 2013. He was a managing director of Sutter Hill Ventures for more than 30 years from 1989 to 2020.
The company pays out a dividend that is a percentage of earnings and over the last four quarters had declared $3.35 in regular dividends and $0.31 in special dividends. The dividend yield based on regular dividends works out to 5.93%...
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By: InsideArbitrage | May 9, 2021
Welcome to edition 567 of Insider Weekends. Insider buying increased significantly last week with insiders purchasing $46.32 million of stock purchased compared to $5.99 million in the week prior. Selling also increased significantly to $3.07 billion compared to $1.15 billion in the week prior.
Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week dropped to 66.28. In other words, insiders sold more than 66 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 192.36.
Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers, funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.
Notable Insider Buys:
1. Artisan Partners Asset Management Inc. (APAM): $56.48
Director Tench Coxe acquired 98,000 shares of this publicly owned investment manager, paying $51.06 per share for a total amount of $5 million. These shares were purchased indirectly by Mr. Coxe’s spouse.
The last time an insider of APAM purchased shares was near the depths of the pandemic related bear market in March 2020. Mr. Coxe purchased 150,000 shares back then at an average price of $21.02. The stock bottomed a little below $18 just days after his purchase and more than tripled from those levels.
APAM was founded in 1994 and as of March 31, 2021 had $162.9 billion in assets under management across a group of business as outlined below. The company has a specific focus on institutional clients and international investments. Mr. Coxe has been involved with the business for a very long time serving as an advisor to APAM from 1995 until it went public in 2013. He was a managing director of Sutter Hill Ventures for more than 30 years from 1989 to 2020.
The company pays out a dividend that is a percentage of earnings and over the last four quarters had declared $3.35 in regular dividends and $0.31 in special dividends. The dividend yield based on regular dividends works out to 5.93%...
* * *
Read Full Story »»»
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