Insiders Dumping These Three Well-Performing Stocks

Let’s now discuss the insider selling activity at Fortune Brands Home & Security Inc. (NYSE:FBHS), an industry-leading home and security products company. Christopher J. Klein, Chief Executive Officer and a member of the company’s Board of Directors, sold 290,000 shares on Friday at prices ranging from $51.00-to-$52.25, after exercising 250,000 options at a price of $12.30 per unit. The shares of Fortune Brands Home & Security Inc. (NYSE:FBHS) are nearly 15% in the green year-to-date despite experiencing a few serious pullbacks over the past two months or so. The U.S. home products market has been strengthening over the last few months, which enabled the company to deliver a solid third quarter earnings report. The company reported earnings per share of $0.61 on sales of $1.24 billion, compared to EPS of $0.52 on sales of $1.06 billion reported a year ago. Hence, it might just be the case that the executive decided to take some profits off the table. Steve Cohen’s Point72 owned exactly 747,500 shares of Fortune Brands Home & Security Inc. (NYSE:FBHS) at the end of June.

General Communication Inc. (NASDAQ:GNCMA) is the final company discussed in this article that saw insider selling activity recently. William C. Behnke, who has served as the Senior Vice President of Strategic Initiatives of General Communications since January 2001, sold 10,000 shares on Friday at a sale price of $20.93 per share, trimming his stake to 192,536 shares. He also holds an indirect ownership stake of 33,902 shares through his defined-contribution pension account. The shares of the telecommunications company are currently trading at an all-time high of over $20, after advancing by nearly 52% year-to-date. General Communication Inc. (NASDAQ:GNCMA) is set to release its third quarter earnings report after the market close on November 4, so the executive might have decided to cash out a portion of his stake prior to the announcement date. Meanwhile, the stock is trading at forward P/E ratio of 19.29, which is slightly above the ratio of the S&P 500. Jim Simons’ Renaissance Technologies reported an ownership stake of nearly 447,000 shares in General Communication Inc. (NASDAQ:GNCMA) via its 13F filing for the second quarter.

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