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Board Member at Datawatch Sells Massive Block After Shares Surge

One member of Datawatch Corporation (NASDAQ:DWCH)’s board sold a huge portion of his stake in the company this week. Board member Randy Seidl liquidated 41,232 shares on Monday at prices varying from $7.05 to $7.10 per share. Mr. Seidl currently owns an aggregate of 19,167 shares after the sizable sale.

The massive insider sale comes as the shares of the provider of self-service data preparation and fast data analytics solutions surged by 42% in the past five days after the company released its financial results for the first quarter of its fiscal 2017. The surge reflected an increase in bookings, the improvement of bottom-line and top-line results, as well as important new customer wins. Datawatch Corporation (NASDAQ:DWCH) reported total revenue of $8.23 million for the three months ended December 31, up from $7.06 million recorded a year ago. Meanwhile, total bookings for the quarter were $9.50 million, a 22% increase year-over-year. As Datawatch shares are trading near their 52-week high of $8.20, it is no surprise that insiders are offloading shares. Royce & Associates, founded by Chuck Royce, had around 98,000 shares of Datawatch Corporation (NASDAQ:DWCH) in its portfolio at the end of the third quarter.

Insider Selling at Florida-Based Independent Bank After Earnings Release

There has been a significant surge in insider selling at FCB Financial Holdings Inc. (NYSE:FCB) in recent days and weeks, but most selling was related to freshly-exercised stock options. Board member Paul Anthony Novelly discarded 36,267 Class A shares on Friday at prices that ranged from $47.20 to $48.05 per share. This was the only sale that did not involve stock options. Mr. Novelly reported an indirect ownership stake of nearly 1.10 million shares following the recent sale.

The surge in insider selling comes after the third-largest Florida-based independent bank released its financial results for the fourth quarter of 2016. FCB Financial Holdings Inc. (NYSE:FCB) reported record core net income of $27.2 million for the quarter, an increase of 21% year-over-year. The core net income figure excludes certain non-recurring items such as merger-related charges, as well as gains or losses on investment securities. The Florida-based independent bank has seen its market cap rise by 43% in the past year, which does explain the insider selling to some extent. Fisher Asset Management reduced its position in FCB Financial Holdings Inc. (NYSE:FCB) by 49% during the fourth quarter to nearly 41,000 shares.

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