Are These Insiders Giving Away Valuable Short-Selling Trading Ideas?

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Next up is Herman Miller Inc. (NASDAQ:MLHR), a manufacturer of office furniture, equipment and home furnishings. Donald D. Goeman, who has served as Executive Vice President of Research, Design and Development since 2005, offloaded 2,633 shares this week in several lots, with prices ranging from $30.15 to $30.16. Following the transactions, he holds 6,920 shares, including an additional 1,624 shares owned indirectly. It is also worth pointing out that Donald Goeman sold 6,279 shares last week as well, at a weighted average sales price of $27.67. The company’s stock performance in 2015 has been quite volatile within close ranges; however, the shares are still slightly over 4% in the green year-to-date. On September 16, Herman Miller released a strong earnings report for the fiscal first quarter of 2016, ended August 29, 2015. The company reported net sales of $565.4 million and net earnings per share of $0.56 compared to $509.7 million and $0.42 reported a year ago. Sahm Adrangi’s Kerrisdale Capital acquired a new stake of nearly 367,000 shares in Herman Miller Inc. (NASDAQ:MLHR) during the June quarter.

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Lastly, we will investigate the insider selling activity at Span-America Medical Systems Inc. (NASDAQ:SPAN), a provider of medical appliances and equipment. Director Robert B. Johnston reported selling his entire stake of 12,000 shares at a price of $17.49 per share a little more than a week ago. This move comes after the Director stepped down from the company’s Board of Directors earlier this month. Span-America Medical Systems repurchased these 12,000 shares, including 249,310 shares owned by The Zucker Revocable Trust, an affiliate of Robert Johnston. Meanwhile, the company’s shares have gained more than 2% since the beginning of the year despite facing a few sharp pullbacks, Span-America anticipates its sales and earnings for the current quarter to be higher than the same quarter last year, thanks to an expected growth in medical and custom products sales. Jim Simons’ Renaissance Technologies reported owning 63,200 shares of Span-America Medical Systems Inc. (NASDAQ:SPAN) via its 13F filing for the June quarter.

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