Insider trading is most profitable when several insiders buy around the same time. Academic studies have shown that insider purchases beat index funds by more than 7 % per year when there are several insiders purchasing. During the past two trading days, there were 8 stocks that caught the attention of Insider Monkey .
1. Town Sports Intl (CLUB): This was one of our favorite stocks with insider trading about four months ago. We specifically wrote a separate article covering this stock and told our readers that we added it to our hypothetical portfolio. The stock gained around 57% since we wrote that article. There were more insider purchases last week.
2. Ligand Pharma (LGND): There were several insider purchases after the company announced its earnings mid February. Tom Steyer’s Farallon Capital started a new position in this stock during the fourth quarter. Dan Loeb’s Third Point sold all of their LGND holdings during the fourth quarter.
3. KKR Financial (KFN): This is a large cap stock with substantial insider purchases. Leon Cooperman’s Omega Advisors have a large KFN position. Dan Loeb also have some KFN shares in his portfolio.
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