This REIT’s President Bought a Large Block of Shares Last Week
According to a fresh Form 4 filing, New York Mortgage Trust Inc. (NASDAQ:NYMT)’s President, Kevin Donlon, snapped up 200,000 shares on Tuesday at prices that ranged from $5.61 to $5.75 per share. After the recent sizable purchase, Mr. Donlon currently owns 206,000 shares of New York Mortgage Trust.
New York Mortgage Trust Inc. (NASDAQ:NYMT) operates as a real estate investment trust (REIT) focused on acquiring, financing and managing mortgage-related assets and financial assets. Just recently, the Department of Financial Services, the primary regulator for financial institutions operating in New York, sent subpoenas to several firms, including New York Mortgage Trust, engaged in seller-financed home sales to find out whether housing deals were offered to low-income buyers who are not eligible for mortgages. In seller-financed housing transactions, the sellers finance home purchases performed by low-income individuals and can require interest rates that are significantly higher than the rates of traditional mortgages, a practice considered as predatory and detrimental to buyers. Shares of New York Mortgage Trust have gained 4% year-to-date. Jim Simons’ Renaissance Technologies LLC acquired a new stake of 13,400 shares of New York Mortgage Trust Inc. (NASDAQ:NYMT) during the first quarter of 2016.
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The Man in Charge of This Insulin Pump Maker Bought Some Shares Last Week
Insulet Corporation (NASDAQ:PODD)’s President and Chief Executive Officer, Patrick J. Sullivan, bought 30,000 units of common stock on Tuesday and 15,000 units on Wednesday at prices varying from $26.82 to $27.14 per unit. After the recent purchase, Mr. Sullivan holds a direct ownership stake of 217,795 shares.
Shares of Insulet Corporation, a so-called leader in tubeless insulin pump technology, have plummeted by 24% since the start of 2016, partly owing to UnitedHealth Group Inc. (NYSE:UNH)’s announcement that Medtronic PLC (NYSE:MDT) would serve as its preferred insulin pump supplier for most of its clients. Some analysts believe Insulet is mostly isolated from UnitedHealth’s decision given that the health carrier’s new policy does not relate to pediatric patients, who account for a high share of Insulet’s OmniPod new patient starts. There were 21 hedge funds from our system invested in Insulet at the end of March, amassing 23% of the company’s outstanding shares. David Greenspan’s Slate Path Capital owns 2.72 million shares of Insulet Corporation (NASDAQ:PODD) as of March 31.
