CEO of Brokerage and Investment Banking Firm Stifel (SF) Keeps Selling Shares, Plus 4 Other Noteworthy Insider Transactions

CEO of Brokerage and Investment Banking Firm Keeps Selling Shares

After 15 different insiders at Stifel Financial Corp (NYSE:SF) offloaded shares in late-November, several insiders continue to trim their holdings. For instance, CEO and Chairman Ronald J. Kruszewski liquidated 30,000 shares at $51.39 apiece on Thursday and 30,522 shares for $51.43 each on Friday, cutting his direct ownership stake to 848,340 shares.

The shares of the full service brokerage and investment banking firm have gained 36% in the past three months, partly explaining the aforementioned insider transactions. Earlier this month, Stifel Financial Corp (NYSE:SF)’s brokerage unit and a former executive agreed to pay $24.6 million to resolve claims related to the sale of synthetic debt obligations to five Wisconsin school districts ahead of the financial crisis of 2008. According to the SEC, the multi-million-dollar figure mentioned above, along with prior settlements with the SEC and in private litigations, would entirely compensate the school districts for the losses incurred from those risky investment products. Ken Fisher’s Fisher Asset Management reported ownership of 2.22 million shares of Stifel Financial Corp (NYSE:SF) through the latest round of 13F filings.

Board Member of Racing, Gaming and Online Entertainment Company Discards Shares

One member of Churchill Downs Inc. (NASDAQ:CHDN)’s Board has been consistently offloading shares over the past several weeks or so, which continued late last week. Non-executive Chairman Robert L. Evans, who retired as Executive Chairman and as a member of management in late-September 2015, sold 5,000 shares on Friday for $152.05 each, 10,000 shares at $153.85 apiece last Wednesday, and 1,207 shares at a price tag of $153.75 per share last Monday. Following those transactions, Mr. Evans currently owns a total of 139,842 shares.

The racing, gaming and online entertainment company, which is anchored by the most famous horse race in the world, the Kentucky Derby, has seen its market capitalization rise by 6% since the beginning of the year. Churchill Downs Inc. (NASDAQ:CHDN) represents a leader in brick-and-mortar casino gaming, with around 8,560 gaming machines in six states, as well as represents the largest online account wagering platform for horse racing in the United States. The company’s total net revenue increased by $23.6 million in the September quarter to $303.4 million, mainly reflecting casual and mid-core free-to-play game growth. Matthew Sidman’s Three Bays Capital was the owner of 1.33 million shares of Churchill Downs Inc. (NASDAQ:CHDN) at the end of the third quarter.

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