Over the past couple of weeks, a few insider purchases caught my eye, mainly in account of the money that the buyers spent. So, in this article I will take a look at three multi-millionaire moves within the consumer goods segments.
The Fresh Market Inc (NASDAQ:TFM) is a $1.6 billion market cap specialty retailer focused on creating an extraordinary food shopping experience for its customers. Over the past week, Ray Berry, Board Director, acquired 435,000 shares of Common Stock for prices ranging from $29.90 per share to $30.78 per share. Following these transactions, in which he spent more than $13 million, Mr. Berry owns over 2 million shares of the company. In addition, Randall Young, Senior Vice President at the Real Estate and Development section of the company, acquired, on May 27, 200 shares, for $29.15 each, and now owns 3,991 shares.
Amongst several other prominent investors at The Fresh Market, we can count James Dondero’s Highland Capital Management, the largest hedge fund shareholder (amongst those we track), with 1.75 million shares. The fund started this position over Q1.
Dicks Sporting Goods Inc (NYSE:DKS) is a $5.4 billion market cap authentic full-line sporting goods retailer offering an assortment of brand name sporting goods equipment, apparel, and footwear in a specialty store environment. The company saw three insiders purchase its stock over the past week. The most relevant acquisition was made by Edward Stack, Chairman and CEO, who, on May 28, purchased 115,000 shares of Common Stock, spending more than $4.89 million. He now owns, through diverse direct and indirect holdings, more than 17 million shares of the company. On that same date, two other insiders at Dicks spent over $1 million (combined) in its stock.
In addition to these insiders, other prominent investors seem quite bullish about this company. For instance, Glenn J. Krevlin’s Glenhill Advisors upped its stake by 46% over Q1, and now owns 875,541 shares of Dicks Sporting Goods.
Finally, there’s Live Nation Entertainment, Inc. (NYSE:LYV), a $4.7 billion market cap producer of live music concerts in the world. On May 19, Liberty Media Corp., Board Director and Large Shareholder (more than 10%), purchased 1.69 million shares of Common Stock for $22.74 per share, and now owns more than 45 million shares, directly, and over 8 million, through wholly-owned subsidiaries.
In addition, the company felt the bullishness of several hedge funds recently, including Charles Akre’s Akre Capital Management, which increased its exposure to the company by 39% over Q1, to 6.35 million shares, worth more than $116 million.
Disclosure: Javier Hasse holds no position in any stocks mentioned