Light Insider Selling At Hormel Foods Corp (HRL), General Communication Inc. (GNCMA) And Verint Systems Inc. (VRNT)

General Communication Inc. (NASDAQ:GNCMA) also had one of its insiders unload shares this week. Director Stephen R. Mooney discarded 5,000 Class A shares this Wednesday at $19.95 apiece and currently owns 66,400 shares. This telecommunications corporation provides wireless, data, video, and voice services to residential customers, businesses, government entities and educational institutions in Alaska. General Communication Inc. (NASDAQ:GNCMA)’s business is highly dependent upon economic conditions in Alaska, which are in turn dependent upon the oil industry, state and federal government spending, and tourism. The depressed energy prices have put downward pressure on the Alaska’s state government budget, but the state is believed to have substantial reserves to fund the state government over the next few years. Nonetheless, a sustained and long-term low oil price environment could still impact the demand for General Communication’s products and services. Despite these headwinds, the shares of the telecommunications corporation have advanced 41% since early 2015, which could created an attractive exit point for investors and insiders. The company reported total revenues of $737.2 million for the nine months ended September 30, up from $681.4 million reported a year ago. The number of hedgies from our database with positions in the company climbed to 13 from 10 during the third quarter. John C. Walker’s Stonerise Capital Management was among the hedge funds that initiated new stakes in General Communication Inc. (NASDAQ:GNCMA) during the quarter, holding 500,000 shares as of September 30.

Verint Systems Inc. (NASDAQ:VRNT) also registered light insider selling this week. Director Larry F. Myers reported selling 2,432 shares on Tuesday at prices that ranged from $40.65 to $40.68 per share, trimming his stake to 7,346 shares. The security and enterprise intelligence company has seen its stock decline by 29% over the past year, but most analysts have great expectations about the company’s future performance. The stock has been rated ‘Outperform’ by most financial hubs and analysts in the past several months, with price targets ranging from $50 to $60. The company reported revenue of $849.47 million for the nine months that ended October 31, as compared with $816.78 million reported for the same period a year ago. However, its net income for the nine-month period totaled a mere $0.1 million, down from $26.3 million reported last year. The company is anticipated to be challenged by weakening macroeconomic conditions across its end markets, in particular in the government-security business. A total of 36 hedge funds tracked by Insider Monkey were invested in the company at the end of the third quarter, amassing 12.40% of its outstanding common stock. Ken Fisher’s Fisher Asset Management holds a 1.36 million-share position in Verint Systems Inc. (NASDAQ:VRNT) as of September 30.

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