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Bargain Hunters Take Note: Insider Cluster-Buying At AAWW
By Market News Video Staff, Tuesday, November 22, 12:02 PM ET
A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW), 3 different insiders purchased 15,000 shares at an average price of $39.03/share, for a total of $585,498, with the most recent purchase on November 16, 2011.
Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":
Purchased
Insider
Title
Shares
Price/Share
Value
11/18/2011
Spencer Schwartz
SVP & CFO
2,500
$39.57
$98,925.00
11/16/2011
Michael Steen
EVP & CCO
8,000
$38.99
$311,928.00
11/16/2011
William J Flynn
President & CEO
4,500
$38.81
$174,645.00
The chart below shows the one year performance of AAWW shares, versus its 200 day moving average. Note that AAWW's low point in its 52 week range is $29.50 per share, with $73.19 as the 52 week high point — that compares with a last trade of $37.53, with shares currently trading off about 1.7% on the day.
According to the ETF Finder at ETF Channel, AAWW makes up 2.31% of the SPDR S&P Transportation ETF (AMEX:XTN) which is trading lower by about 0.6% on the day Tuesday.
AAWW operates in the Airlines sector, among companies like Grupo Aeroportuario del Centro Norte S.A.B. de C.V. ADS (NASDAQ:OMAB) which is off about 1% today, and Fly Leasing Ltd. (NYSE:FLY) trading higher by about 1.1%. Below is a three month price history chart comparing the stock performance of AAWW, versus OMAB and FLY.
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