INSIDER BUYING REMAINS A SIGN OF LITTLE CONFIDENCE IN THE MARKET
03/11/2009 § Leave a comment
Insiders continue their resounding vote of no confidence in the companies they run via the use the of their own dollars. Insider buying for the latest week jumped slightly from last week’s data to 45.8MM. It was a sizable jump from last week’s reading of $14.7MM. This week’s data was heavily skewed by a $27.5MM purchase by Barry Diller in Coke (KO). Insider selling fell to $455.4MM. Overall, the data remains abnormally lopsided as the sellers outpace the buyers by a margin of 10:1. The massive amounts of selling over the recent weeks and months begs the question: have insiders done the majority of their selling at the market peak?