Top Buys by Top Brass: CEO Sargent's $100.5K Bet on SPLS

Apr 4 2014, 9:46am CDT | by

A company’s own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. 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 — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ”top brass” over the trailing six month period, one of which was a total of $100.5K by Ronald Sargent, CEO at Staples Inc (NASD: SPLS).

Click here to find out which other top insider buys by the ”top brass” you need to know about »

Sargent bets big on SPLS:

Purchased Insider Title Shares Price/Share Value
04/03/2014 Ronald Sargent Chairman and CEO 8,500 $11.82 $100,454.70

Sargent’s average cost works out to $11.82/share. Shares of Staples Inc were changing hands at $12.11 at last check, trading up about 0.1% on Friday. The chart below shows the one year performance of SPLS shares, versus its 200 day moving average:

Looking at the chart above, SPLS’s low point in its 52 week range is $11.04 per share, with $17.30 as the 52 week high point — that compares with a last trade of $12.11.

The current annualized dividend paid by Staples Inc is $0.48/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 03/26/2014. Below is a long-term dividend history chart for SPLS, which can be of good help in judging whether the most recent dividend with approx. 4.0% annualized yield is likely to continue.

According to the ETF Finder at ETFChannel.com, SPLS makes up 1.71% of the First Trust NASDAQ-100 Ex-Technology Sector Index Fund ETF (NASD: QQXT) which is trading higher by about 0.4% on the day Friday.


Special Offer: Find out how Dave Moenning is trading around the most recent insider transactions with a free 30 day trial and a special 20% off coupon from Forbes.
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