2iQ Insider Brief

A brief look into insider buying and selling by 2iQ Research, the leading provider of insider transactions data to the investment community. Our bi-weekly Insider Brief highlights a small number of companies whose directors' transactions flag potential risks and opportunities for investors.


YAMANA GOLD INC. (YRI:CN)
12 months performance: Bearish
Insider activity: Bullish
Buying pattern: Multiple; CEO; CFO

Yamana shows bullish performance following the recent Q3 2017 announcement, although overall performance is indicating a bearish sentiment. This has not been helped by the overall decline in gold markets. However, interestingly, no mass sell-out is observed despite the visible downward trend over the last quarter, and occasional failed attempts to stabilise the share price. There is a glimmer of hope after the Q3 2017 announcement: the stock is demonstrating slight signs of stability, supported by multiple insider purchases, particularly during last month. This is a solid indication of the management’s remarkable trust in the company’s future.


MALLINCKRODT PLC (MNK:US)
12 months performance: Bearish
Insider activity: Bullish
Buying pattern: Multiple; CEO

It is no great surprise that sentiment is bearish based on the past 12 months performance. Margins and the share price suffered a substantial decline as a consequence of legal issues involving a range of Mallinckrodt patented products in the US, as well as increasing competition and changes in US health policy. Despite this downturn in company performance and the concerning signals this may have been sending to the investment community, multiple insiders are radiating positivity by taking advantage of the record low price to increase their shareholding. Chairman Melvin D. Booth was seen leading this buying spree by acquiring over 200,000 shares in November following the third quarter’s earnings release.


BILIA AB (BILIA:SS)
12 months performance: Bearish
Insider activity: Bullish
Buying pattern: Multiple

Despite a string of positive announcements from the company - its acquisition of another BMW dealership in Norway, for example, as well as the news of signing a new lease agreement cementing its presence in Stockholm - the overall bearish sentiment of Bilia AB stock performance remains unaffected.

However, should one take a closer look at the level of insider buying activity, it is clear that the stock is considered to be undervalued. With the biggest insider buying activity in the company's history being experienced in November, our data points at bullish activity by almost every key insider including the chairman of the board whose shares stand at a significant value of $2.4 million. Meanwhile Investment AB Öresund has also made notable purchases over the last few months, amounting to just under one million shares.

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