Massive Insider Purchase of ETF Specialist’s Shares
WisdomTree Investments Inc. (NASDAQ:WETF) was another company that registered a massive insider purchase this week. Board member Anthony Bossone acquired a block of 50,000 shares on Tuesday at an average price of $9.90 per share, which lifted his ownership to 162,972 shares. Mr. Bossone’s ownership stake includes restricted stock awards totaling 9,487 shares.
The New York-headquartered asset manager which specializes in exchange-traded funds has lost 33% of its market value since the start of 2016. WisdomTree Investments Inc. (NASDAQ:WETF) provides exchange-traded products covering equity, fixed income, currency, alternative, and commodity asset classes. The eighth-largest ETP sponsor in the world based on assets under management had outflows of $5.4 billion in the first quarter, mainly reflecting negative sentiment to its two largest exposures: the company’s Europe- and Japan-focused ETFs. The company’s U.S.-listed ETF assets under management totaled $38.0 billion at the end of June, down by 26.3% compared to the figure recorded at the end of December. This decrease reflects $10.3 billion of net outflows and $3.5 billion of negative market movement. Royce & Associates, founded by Chuck Royce, was the owner of 2.18 million shares of WisdomTree Investments Inc. (NASDAQ:WETF) at the end of the first quarter.
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More Insider Buying at Struggling U.S. Airline
Delta Air Lines Inc. (NYSE:DAL) also saw a member of its Board purchase shares earlier this week. Board member George N. Mattson snapped up 10,000 shares on Wednesday at prices between $36.47 and $36.50 per share, of which 5,000 shares are owned by a limited liability company controlled by Mr. Mattson. After the recent transactions, the Board member currently holds a direct ownership stake of 54,750 shares.
The second-largest U.S. airline by traffic has seen its market cap plunge by 26% since the beginning of the year. Just recently, Delta Air Lines Inc. (NYSE:DAL) revealed that its passenger unit revenue, an important metric in the airline industry, declined by 7% in July. However, the carrier is said to be on track to stop its months-long decline in passenger unit revenue and increase this highly-scrutinized measure by the end of the year or the first half of 2017. Connecticut-based Columbus Circle Investors reported ownership of 2.55 million shares of Delta Air Lines Inc. (NYSE:DAL) in its 13F for the June quarter.
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The final page of this article will discuss the recent insider selling registered at two other companies.
