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Morning Coffee: Steven Cohen Buys 5% of NQ, Large Insider Sells at LinkedIn

Chris Mydlo

Chris Mydlo

38 followers

The S&P 500 closed up 13 points yesterday to finish at 1,872. The all-time closing high was 1,878 on March 7. Starting this morning the futures are slightly up, but many market participants will likely be waiting for the announcement of today’s FOMC at 1 p.m. central. Janet Yellen will have her first press conference as chair of the Fed.

Earnings Announcement:

Today’s big announcement was FedEx (FDX), the world’s No. 2 package deliver company. For the third quarter the company earned $1.23 per share and revenue of $11.3 billion. The expectations were $1.45 per share earnings and $11.44 billion of revenue. The reason for the miss was due to winter storms.

Recent Guru Trade:

On March 14, Steven Cohen (Trades, Portfolio) disclosed that he increased his position in NQ Mobile from just 15,465 shares at the end of 2013 to now 7,012,665 shares. He now owns 5.1% of the company. The company is a provider of mobile internet services with its headquarters in China. On Oct. 24, the stock dropped from a high of $23.20 to a low of $8.46 after a report was released questioning the NQ’s accounting. The stock has since rebounded to over $20 today.

Recent Insider Buys of More than $100,000:

  1. Chairman and CEO of Cenveo Inc. (CVO) Robert G. Burton Sr. bought 59,300 shares on 03/17/2014 at an average price of $3.41. Total transaction amount is $202,213. Cenovo provides print related products in the U.S. and internationally. It has a market cap of about $230 million and a forward P/E of 6.46.

    CVO-Financial Strength: 5/10, Profitability & Growth: 4/10

  2. President and CEO, 10% Owner of Ameresco Inc. (AMRC) George P. Sakellaris bought 65,470 shares on 03/17/2014 at an average price of $7.5. Total transaction amount is $491,025. Ameresco provides energy efficiency solutions for facilities in the U.S., Canada and Europe. It has a market cap of about $350 million and a forward P/E of 27.75.

    AMRC-Financial Strength: 7/10, Profitability & Growth: 6/10

  3. CEO & Chairman, 10% Owner of Opko Health Inc. (OPK) Phillip Frost Md Et Al bought 20,500 shares on 03/18/2014 at an average price of $9.95. Total transaction amount is $203,975. Opko Health is a biopharmaceutical and diagnostics company. It has a market cap of about $4 billion and a no P/E due to negative earnings.

    OPK-Financial Strength: 7/10, Profitability & Growth: 5/10

Recent Insider Sells of More than $5 Million:

  1. Chairman, President and CEO of Six Flags Entertainment Corp (SIX) James Reid-anderson sold 195,000 shares on 03/18/2014 at an average price of $42.65. Total transaction amount is $8,316,750. Six Flags owns and operates regional theme, water and zoological parks. It has a market cap of about $4 billion and a forward P/E of 26.57. 

    SIX-Financial Strength 7/10, Profitability & Growth: 8/10

  2. CEO of LinkedIn Corp. (LNKD) Jeff Weiner sold 37,000 shares on 03/17/2014 at an average price of $193.98. Total transaction amount is $7,177,260. LinkedIn operates an online professional network. It has a market cap of about $24.5 billion and a forward P/E of 81.58.

    LNKD-Financial Strength 7/10, Profitability & Growth: 4/10


Rating: 5.0/5 (1 vote)

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