Moving on to Endurance Specialty Holdings Ltd. (NYSE:ENH), the Chairman and Chief Executive Officer of the company, John Charman, acquired 100,000 shares through two transactions on August 25 and 26 at prices of $61.76 and $61.77 per share respectively. After the recent transactions, the man in charge of Endurance Specialty owns 811,255 shares. The company’s shares are 3% in the green year-to-date despite suffering a significant drop over the last two weeks. The slump might have been caused by the broader negative market sentiment that has originated recently from the bad economic news coming out of China. So it is highly probable that the CEO of Endurance Specialty believes that the market has punched his company’s shares way too strongly. The company recently announced its financial results for the second quarter, posting net income of $76.0 million or $1.68 per diluted share, compared to $75.0 million or $1.68 per share reported a year ago. Although Ric Dillon’s Diamond Hill Capital slightly decreased its stake in Endurance Specialty Holdings Ltd. (NYSE:ENH) to 939,369 shares during the second quarter, the investment firm still remained the largest equity holder in the company within our database.
We can now turn our attention to the company that saw an insider sell some of its shares, Fabrinet (NYSE:FN). John Marchetti, Chief Strategy Officer at Fabrinet, offloaded 20,519 shares at a price of $19.14 per share, reducing his stake to 97,474 shares. The stock has gained slightly over 10% since the beginning of the year, so it might be the case that Joch Marchetti is pleased with the performance and cashing out some of his holdings. However, the CSO is the only one who knows the true reason behind the sell-off, so the insider selling activity remains subject to speculation. The leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services recently announced its financial results for the fourth quarter and fiscal year that ended June 26, 2015. Indeed, the strong financial figures for the quarter have pushed the stock higher. Fabrinet posted fourth quarter revenues of $206.5 million, which represents the company’s highest quarterly revenues ever, compared to $160.1 million reported in the same quarter a year ago. The company’s GAAP net income for the quarter didn’t disappoint either, as it came in at $13 million or $0.36 per diluted share, compared to $10.3 million or $0.29 posted a year ago. Chuck Royce’s Royce & Associates is the top shareholder of Fabrinet (NYSE:FN) within our database, holding a 3.94 million-share stake.
Disclosure: None
