Boston, MA 09/04/2014 (wallstreetpr) – Multi-national biopharmaceutical company, Opko Health Inc. (NYSE:OPK) Chairman and Chief Executive Officer, Phillip Frost, has been increasing his holdings in the company indirectly. He had acquired the company’s shares on September 2 also after involving indirectly in a dozen transactions last month.
Acquires Shares
Frost Gamma Investments Trust, in which the Chairman and the CEO has interest, had acquired 10K shares on September 2 at an average cost of $8.78 by paying $87.8K, according to the Form 4 filing with the Securities and Exchange Commission or the SEC. The trust had paid a premium of nearly 20% over the yearly low price of $7.32 but at a discount of 32.2% from the 52-week high price of $12.95.
As a result of the latest transaction on Tuesday, the Trust holding in Opko Health Inc. (NYSE:OPK) had increased to 142.8 million shares. While these were held indirectly by Phillip Frost, his direct holding in the company also stands at 2.01 million shares.
Insider Activities In August
There were at least a dozen transactions done by Phillip Frost indirectly in August. A total of 309.7K shares were acquired by the Chairman indirectly, according to data in Nasdaq. The CEO-controlled Trust had paid $2.72 million to buy these shares.
The buying quantity varied between 5K shares and 63K shares while the average price ranged between $8.169 and $9.065 during the 12 transactions witnessed last month.
Three-Month Activities
There were 39 transactions of buying activities by the insiders during the last three-month period. It resulted in the acquisition of about 1.08 million shares by the insiders. Significantly, there were no selling activities recorded during the period.
Similarly, there were 169 transactions of insider trading activities in the last one-year period and 160 belonged to the buying of shares while nine transactions involved selling of shares by the insiders. While about 5.48 million shares were acquired by the insiders, about 630K shares were sold by them in the 12-month period. Therefore, there was a net buying of 6.11 million shares by the insiders during the last one-year period. This would suggest the kind of management’s confidence in Opko Health Inc. (NYSE:OPK)’s performance.
