Caterpillar Inc. (CAT), ConocoPhillips (COP) and Infinera Corp. (INFN) Insiders Pile Up Shares, Plus Striking Insider Selling at 2 Companies

Massive Insider Selling Registered at Provider of Truckload Transportation

There was immense insider selling registered at Knight Transportation (NYSE:KNX) over the past few trading sessions. Kevin P. Knight, Executive Chairman of the company’s Board and one of the four cousins who founded the U.S. truckload motor shipping carrier in 1990, sold 235,700 shares on Friday, 131,800 shares on Monday, and 132,500 shares on Tuesday at prices that fell between $28.31 and $30.07 per share. After these transactions, Mr. Knight currently holds an indirect ownership stake of 3.35 million shares through a trust fund. The freshly-sold shares were also held in Mr. Knight’s trust fund.

The provider of full truckload transportation and logistics services has seen its market capitalization jump by 18% year-to-date. In early July, analysts at Credit Suisse downgraded Knight Transportation (NYSE:KNX) to ‘Neutral’ from ‘Outperform’ and reduced their price target on the stock to $26 from $28, citing industry overcapacity, weak pricing, as well as mounting uncertainty around consumer spending in the second-half of the year. Ken Griffin’s Citadel Advisors LLC had 415,000 shares of Knight Transportation (NYSE:KNX) among its pool of holdings at the end of March.

Top-Tier Executives Offload Shares of Leading Media and Marketing Company

Meredith Corporation (NYSE:MDP) saw its most influential and informed executives offload shares earlier this week. To begin with, Chief Financial Officer Joseph H. Ceryanec discarded his entire stake of 9,145 shares on Monday at prices between $53.79 and $54.35 per share. Moreover, Chairman, President and CEO Stephen M. Lacy sold 46,283 shares on the same day at prices of between $53.79 and $54.53 per share, trimming his overall holding to 6,674 shares.

The insider selling comes shortly after the leading media and marketing company released its financial results for its fiscal year 2016 ended June 30. Meredith Corporation (NYSE:MDP) reported total revenue of $1.65 billion for the fiscal year, up from $1.59 billion recorded a year earlier. This fiscal 2016 figure represents the company’s highest top-line figure in its history and Meredith anticipates improving upon that further in fiscal 2017, guiding for a revenue increase in the mid-single digits. Meredith shares are 23% in the green year-to-date. Ken Fisher’s Fisher Asset Management reported owning 957,780 shares of Meredith Corporation (NYSE:MDP) through the latest 13F filing period, for the June quarter.

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