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2019-10-13 22:38:02

The largest insider buys this week were in Assured Guaranty Ltd. (NYSE:AGO), Keurig Dr Pepper Inc. (NYSE:KDP), Immunomedics Inc. (NASDAQ:IMMU) and Advanced Drainage Systems Inc. (NYSE:WMS).

Assured Guaranty chief investment officer bought 70,800 shares

Chief Investment Officer Andrew T. Feldstein bought 23,200 shares on Oct. 9 for an average price of $44.45. The share price has increased by 2.45% since then.

Assured Guaranty is a Bermuda-based financial company whose subsidiaries provide credit enhancement services to the public finance, structured finance and infrastructure markets. The company also provides alternative asset management services to institutional investors. The company has a market capitalization of $4.5 billion; as of Oct. 11, it traded at $45.54.

On Oct. 1, Assured Guaranty announced it completed the acquisition of alternative asset management firm BlueMountain Capital Management LLC. According to the terms of the agreement, which was inked on Aug. 7, the deal included the purchase of all the outstanding equity interests in BlueMountain and its associated entities for a price of around $160 million.

Keurig Dr Pepper chief human resources officer Mary Beth Denooyer bought 6,000 shares

Chief Human Resources Officer Mary Beth Denooyer bought 6,000 shares on Oct. 8 for an average price of $27.10. Since then, the share price has increased by 2.62%.

Keurig Dr Pepper is an American beverage conglomerate. Its East Coast division sells coffee, beverages and Keurig brewers. As of July 2018, the company also sells sodas, juices and other soft drinks from its Dr Pepper Snapple division in Texas. The company has a market capitalization of $39.12 billion; as of Oct. 11, it traded at $27.81.

On Sept. 26, Keurig Dr Pepper announced a long-term master licensing and distribution agreement with McDonald’s for McCafé packaged coffee in the U.S. Under this agreement, Keurig Dr Pepper will continue to be the exclusive manufacturer of McCafé K-Cup pods. The company will also be responsible for coffee sourcing, distribution and marketing for the K-Cup McCafé brands beginning in the second half of 2020.

Immunomedics chief quality officer bought 5,000 shares

Chief Quality Officer Bryan Ball bought 5,000 shares on Oct. 3 for an average price of $14.18. The stock has declined 0.07% since then.

Immunomedics is an American clinical-stage biopharmaceutical company that focuses on developing monoclonal antibody drug conjugates for the treatment of cancer. The company is a Russell 2000 component. The company has a market capitalization of $2.72 billion; as of Oct. 11, it traded at $14.17.

On Aug. 7, Immunomedics reported second-quarter financial results. The company had no revenue for the quarter due to the discontinued sale of LeukoScan, while the company had revenue of $0.4 million in the prior-year quarter. Total costs and expenses were $67.2 million for the quarter, compared to $52.8 million a year ago. The Phase 3 confirmatory ASCENT study has reached its target enrollment for mTNBC patients, with top-line data expected around mid-2020.

Advanced Drainage Systems director bought 326,883 shares

Director Ross M. Jones bought 97,010 shares on Oct. 4 for an average price of $31.61. The share price has climbed 11.01% since then.

Advanced Drainage Systems is an American manufacturing company that focuses on producing plastic corrugated pipes and other drainage products. The company’s products are used for residential, agricultural and infrastructure applications. The company has a market capitalization of $2.39 billion; as of Oct. 11, it traded at $35.09.

On Sept. 18, Advanced Drainage Systems announced it priced a private offering of $350 million aggregate principal amount of 5% senior unsecured notes due in 2027. The company’s present and future domestic subsidiaries guarantee its senior secured credit facility will support the Notes. The offering closed on Sept. 23.

For the complete list of stocks that were bought by their company executives, go to insider trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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