Insider Trading Wed 12/11/24

Notable purchases -- CEO and Directors add to AVDL; notable sales -- Senior Vice President / CIO active in KR

Buyers

• AVDL Chief Executive Officer and two (2) Directors bought 33,279 Ordinary Shares combined at $9.80 - $10.19 worth approximately $330K.
• BAH Director bought 690 shares of Class A Common Stock at $145.66 worth approximately $101K.
• CTGO Director bought 10,000 shares at $11.99 - $12.20 worth approximately $121K.
• ESQ Director bought 640 shares worth approximately $50K.
• MYE Interim President / Chief Executive Officer bought 15,000 shares at $11.33 - $12.41 worth approximately $179K.
• NRDY Chief Executive Officer bought another 168,361 shares of Class A Common Stock at $1.52 - $1.60 worth approximately $266K.
• PBF 10% owner Control Empresarial de Capitales S.A. de C.V. bought another 137,000 shares at $29.875 - $30.01 worth approximately $4.1 mln.
• PETS 10% owner Nina Capital bought 40,000 shares at $5.48 - $5.62 worth approximately $222K.
• UAMY Director bought 70,000 shares at $1.458 worth approximately $102K.

Sellers

• BGNE 10% owner Baker Bros. sold 1,037,017 American Depositary Shares worth more than $194 mln.
• DYN Director sold 136,112 shares at $29.00 - $29.66 worth approximately $4.0 mln.
• GTI Directors (2) sold 630,000 Class A Ordinary Shares combined worth approximately $1.4 mln.
• HNVR Directors (2) sold 7,500 shares combined at $25.50 - $25.53 worth approximately $191K.
• KR Senior Vice President and CIO sold 20,000 shares at $58.214 - $58.61 worth approximately $1.2 mln.
• LAD Chief Administrative Officer sold 267 shares at $379.50 worth approximately $101K.
• RNGR Director (managing member of Bayou Well Holdings Company) sold 137,865 shares at $15.51 - $16.26 worth approximately $2.2 mln.
• TROW Vice President sold 4,047 shares at $122.66 - $123.99 worth approximately $499K.
• VTOL Director sold 2,973 shares at $35.49 worth approximately $106K.

Long trade : T. Rowe Price (TROW) +9% (10/20)

• Oct. 2: #29; vol. 1.2M

=T. Rowe Price (TROW) reported earnings on Tue 25 April 2017 (b/o)

T. Rowe Price Group Inc. reported a profit of $385.9 million in the first three months of the year, up 27 percent from the January-through-March period last year.

Earnings per share at the Baltimore-based investment management company rose to $1.54, up 36 cents compared to the first quarter of 2016.

The results were buoyed by a $50 million one-time gain from an insurance recovery related to the firm's decision to compensate some investors for a botched vote on Dell Inc.'s sale.

Backing out such non-recurring gains, per-share earnings were $1.18, which fell just short of analyst estimates of $1.20, according to eight analysts polled by Zacks Investment Research.

Perhaps reflecting that disappointment, T. Rowe's stock closed Tuesday down 4.19 percent at $69.59 a share.

T. Rowe reported revenue of $1.1 billion, up 12 percent from $994.1 million for the same period last year. Investment advisory fees rose almost 14 percent, to $991.1 million.

T. Rowe had $861.6 billion in assets under management at the end of March.

Excluding the impact of the insurance recovery, operating expenses rose 10 percent, to $641.9 million from the same period in 2015.

Because markets have been strong, T. Rowe said it plans to spend more to accelerate spending on strategic initiatives, such as creating new investment products, expanding distribution capabilities and using technology to improve client experience.

Such initiatives are aimed at diversifying business outside the United States, Stromberg said, as investors in U.S. equity markets continue to pull money from actively managed funds in favor of passive investments.

=T. Rowe Price (TROW) reported earnings on Thur 26 Jan 2017 (b/o)

T. Rowe Price beats by $0.17, reports revs in-line :

• Reports Q4 (Dec) earnings of $1.50 per share, $0.17 better than the Capital IQ Consensus of $1.33; revenues rose 3.7% year/year to $1.09 bln vs the $1.1 bln Capital IQ Consensus.
• Assets under management decreased $2.1 billion in the fourth quarter of 2016, but increased $47.7 billion for the full year of 2016 to $810.8 billion at December 31, 2016.
• Management Commentary:
  • "U.S. stocks advanced sharply in the fourth quarter of 2016, lifting major indexes to record highs and resulting in strong full-year gains for many investors. Economic growth finished 2016 on a strong note and investors grew more optimistic that the incoming administration and Congress will succeed in reducing regulations and taxes. International equity markets delivered positive but less strong results, held back by a strengthening U.S. dollar. Fixed income returns suffered in the quarter as interest rates rose following the U.S. elections. Full year returns, though, were solid, led by high yield and emerging market bonds.
  • "We experienced net cash outflows for the fourth quarter and the year, largely as a result of clients reallocating from active U.S. equity strategies to passive products. The trend to passive has been persistent and has accelerated in recent years. We cannot predict when it will reach a new equilibrium. Over the long term though, we expect well-executed active management to play an important ongoing role for investors and we are reinvesting in our company with the objective of sustaining the strong investment and service results we have historically achieved for our clients.
  • "Our previously announced initiatives in product, distribution, and technology are moving ahead as planned. We are expanding our asset allocation business to meet the growing demands of global solution-seeking investors. We are continuing the buildout of our distribution capabilities to capitalize on opportunities in key markets outside of the U.S., as well as with intermediaries in the U.S., where regulatory changes are creating opportunities. And we are investing to enhance our clients' technology-enabled experiences across all of our businesses. For example, our new T. Rowe Price ActivePlus Portfolios discretionary advice service was beta tested this past quarter and is formally launching to clients in early 2017.

-=T. Rowe Price (TROW) reported Q1 earnings on Tue 26 Apr 2016 (b/o)

T. Rowe Price beats by $0.12, reports revs in-line  :

• Reports Q1 (Mar) earnings of $1.15 per share, $0.12 better than the Capital IQ Consensus of $1.03; revenues fell 3.2% year/year to $994.1 mln vs the $1 bln Capital IQ Consensus.
• Assets under management increased $1.5 billion in the first quarter of 2016 to $764.6 billion at March 31, 2016. Net cash flows in the 2016 quarter were $5.1 billion and market depreciation, net of income was $3.6 billion.
• "Equity and credit markets have recovered nicely after a difficult first six weeks (of the new year). We continue to believe that global growth and financial market returns will be modest over the next year".

=T. Rowe Price (TROW) reported 4Q earnings on Thur 28 Jan 2016 (before open)

** charts before earnings **



** charts after earnings **

T. Rowe Price beats by $0.07, beats on revs :

• Reports Q4 (Dec) earnings of $1.18 per share, $0.07 better than the Capital IQ Consensus of $1.11; revenues rose 2.9% year/year to $1.05 bln vs the $1.03 bln Capital IQ Consensus.
• Q4 mutual funds' net cash flows after client transfers include net outflows of $1.4 billion from the stock and blended asset funds that were offset in part by net inflows of $.9 billion into the fixed income funds and $.2 billion into the money market funds.