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https://www.zerohedge.com/article/insider-selling-update-2-buyers-50-sellers-ratio-corporate-stock-buybaks-insider-purchases-1

Corporateinsiders are using little of their own money to buy shares in theircompanies, even as their companies announce large share repurchases,reports TrimTabs Investment Research, indicating that corporate insidershave little confidence that their company stock price is going to rise.

Ina research note, TrimTabs reported that companies have announced asolid $124 billion in stock buybacks in Q2 2011, yet insiders have usedless than $2 billion of their own money to buy stock in the quarter,one of the highest ratios of announced company share buybacks toinsider stock purchases since TrimTabs began keeping records in 2004.

“We’venever seen such a sharp contrast between what insiders are doing withtheir own money and what they’re doing with the money of the companiesthey manage,” said Charles Biderman, CEO of TrimTabs. “Thebest-informed market participants seem worried about what will happen tothe economy when the Fed stops printing money,” Biderman said. “Whileinsiders are willing to use corporate cash to try to support the valueof their stock-based compensation, they don’t seem to think their stocksare attractively priced.”

“The ratio of announced stock buybacks to insider buying topped 70 in the first two quarters of this year,” noted Biderman.

“Theywere by far the highest levels in our records. How many of theanalysts and journalists, cheering the big buybacks, realize that thepeople rolling them out aren’t buying anything themselves?”

TrimTabsdata shows that insider buying has occurred at just six of the 30companies with the biggest announced stock buybacks this year, totaling$168 billion dollars. Theinsider buying at these six firms amounted to less than $10 million,making for an announced-buyback-to-insider-buying ratio of 16,800 to 1.