Big Trade in Wynn Resorts Highlights Recent Insider Buying

We cover insider buying every week at 24/7 Wall St., and we like to remind readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it remains a positive indicator.

Here are some of the companies that reported notable insider buying this past week.

Wynn Resorts Ltd. (NASDAQ: WYNN) has taken a shot to the stock price on very poor Macau revenues, and a director at the company took advantage of the price dip to buy shares last week. That director bought a total of 40,000 shares of the stock at prices between $67.94 and $68.00. The total for the buy came to $2.7 million. Wynn shares were trading on Friday’s close at $67.60. That is down from $190 this time last year.

Alimera Sciences (NASDAQ: ALIM) had a 10% owner come back to the market and buy more shares this week. Deerfield Management bought an additional 390,040 shares of the company at prices that ranged from $2.73 to $3.09 per share. The total for the buy came to $1.2 million. Alimera Sciences engages in the research, development and commercialization of prescription ophthalmic pharmaceuticals in the United States and internationally. Shares closed trading on Friday at $3.09.

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Charles Schwab Corp. (NYSE: SCHW) hit both our insider reports for the past week, as there was two-way insider trading in the stock. A director at the company bought 7,100 share of the stock at prices between $28.37 and $28.89 per share. That cost the director $203,000. Shares ended the week at $30.43, so a solid purchase.

Marriott Vacations Worldwide Corp. (NYSE: VAC) had the man at the top buying stock last week. CEO Stephen Weisz picked up 4,000 shares of the company at between $62.40 and $62.47 apiece. The total for the buy came to $250,000. This company develops, markets, sells and manages vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands. The stock closed trading on Friday at $62.84.

PacWest Bancorp (NASDAQ: PACW) had a top officer at the company buying shares this past week. The chief financial officer bought a total of 2,400 shares at $42.49 apiece. The total for the purchase came to $102,000. PacWest Bancorp operates as the holding company for Pacific Western Bank, which provides commercial banking products and services to individuals, professionals and small to mid-sized businesses in the United States. The stock was trading at $45.03 on Friday’s close, so a well-timed purchase.

Despite the volume dropping due to trading restrictions during earnings season, the insider buying still is coming in much stronger than insider selling. This is a positive for investors as the lack of selling indicates many insiders think prices are headed higher.

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