Banking, finance, and taxes
E*TRADE Insiders Buying Spree (ETFC)
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There are some SEC filings out of online brokerage firm E*TRADE Financial Corp. (NASDAQ: ETFC) that shows quite a bit of insider transactions that took place on January 29. These were all insider acquisitions and this was after earnings. Below are the purchases seen from management with the shares purchased and the listed prices:
- Hayter, director 4,917 at $4.06
- Layton, director 245,800 at $4.06
- Fisher, director 31,806 at $4.06
- Randall, director 29,500 at $4.06
- Parks, director 24,586 at $4.06
- Raffaeli, director 12,293 at $4.06
- Lilien, acting CEO 7,376 at $4.06
- Weaver, director 68,843 at $4.06
- Brewster, director 24,586 at $4.06
- Willard, director 11,942 at $3.98 and 13,058 at $3.99
We looked over its recent earnings and noted how the company is not at all signaling its demise. These insider share purchases may only fuel that more. We just noted this one in our "10 Stocks Under $10" weekly subscriber letter on Sunday and we really wonder if Mr. Moglia or Mr. Schwab have an interest in buying this company.
Jon C. Ogg
January 30, 2008
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