Fairmount Santrol Holdings Inc. (FMSA) and General Electric Company (GE) Register Massive Insider Purchases, Plus Three Other Companies with Notable Insider Trading

GE’s CEO Buys a Massive Block of Shares

General Electric Company (NYSE:GE) also witnessed a notable insider purchase this week. The company’s Chairman and CEO, Jeffrey R. Immelt, purchased 50,000 shares on Tuesday at a price tag of $31.45 each. After the recent purchase, Mr. Immelt currently holds an ownership stake of 2.20 million shares.

The industrial giant has seen its market value increase by 19% in the past 12 months, in part due to the company’s successful exit from the majority of its financial services businesses. However, JPMorgan analysts recently issued a bearish note about General Electric Company (NYSE:GE), saying that “…as the hysteria around transformation fades, and the focus shifts to actual numbers, what’s left is a core, fundamental outlook for earnings and FCF that we think is at best stable, at worst deteriorating, and undoubtedly below consensus”. Long story short, JPMorgan considers General Electric as a top underweight. Ken Fisher’s Fisher Asset Management had 31.31 million shares of General Electric Company (NYSE:GE) among its holdings on March 31.

California-Based Bank Holding Company Registers Cluster of Insider Buying

Pacific Premier Bancorp Inc. (NASDAQ:PPBI) recorded a cluster of insider buying this week, which involved three different insiders. To begin with, Thomas Rice, Chief Operating Officer and Executive Vice President, bought 600 shares on Tuesday for $23.98 each, lifting his stake to 12,676 shares. Moreover, Board member Joseph L. Garrett snatched up 840 shares on the same day at a cost of $23.90 per share, a purchase that lifted Mr. Garrett’s ownership to 63,860 shares. Last but not least, Jeff C. Jones, Chairman of the company’s Board, purchased 1,000 shares on Tuesday at a weighted average price of $23.94 per share. Following the recent purchase, the Chairman currently owns 108,693 shares.

The shares of the California-based bank holding company for commercial bank Pacific Premier Bank are 15% in the green since the start of 2016. In late January, Pacific Premier Bancorp Inc. (NASDAQ:PPBI) completed the acquisition of Security California Bancorp in exchange for consideration valued at $120 million. The bank holding company acquired $714 million in total assets, $456 million in loans, as well as $637 million in total deposits. Matthew Lindenbaum’s Basswood Capital owned 1.10 million shares of Pacific Premier Bancorp Inc. (NASDAQ:PPBI) on March 31.