| I see that there has some big time insider buying in this stock. An SC 13D filing on 8/3/00 shows Jain and Acorn LLC owning 49,790,610 and 5,719,319 shares respectively. An SC 13G/A filed on 2/14 shows Jain and Acorn owning 62,558,112 and 19,455,018 shares respectively. Both Jain and Acorn have added approximately 13,000,000 shares each and Acorn's position has tripled. That shows serious belief in the company as an investment at current share prices. Many companies like herald substantial insider purchases, especially in a terrible market as we have, to put a floor in the stock price. It often works. Infospace, on the other hand, has not issued so much as a peep beyond the mandatory SEC filings about the substantial amount of shares purchased by their Chairman/CEO and Director Lumry's investment vehicle. These guys seem to truly be interested in purchasing INSP shares at the best prices they can get without disrupting the market. I presume they are still accumulating because otherwise there would be no reason for them to remain quiet. 13 million shares even at the current low price of $3.50 still costs $45.5 million. That's pretty serious money. I wish that INSP would publicize these purchases though so that people who don't scour INSP's SEC filings would know. For some reason, these purchases haven't shown up on Yahoo's "Insider" transactions report for INSP. |
