Clusters of Insider Buying at Battered Retailer of Storage Products and Struggling Trucking Firm, Plus Other Insider Trading

Corporate Insiders at Struggling Trucking Firm Buy Shares After Share Price Plunges

Four different corporate insiders at USA Truck Inc. (NASDAQ:USAK) increased their equity stakes earlier this week. To begin with, Robert A. Peiser, Chairman of the Board, purchased 6,000 shares on Wednesday at prices that fell between $7.31 and $8.10 per share. The shares are held in a trust fund that currently owns 27,272 shares. Mr. Peiser also holds a direct ownership stake of 30,513 shares. James Allie Craig, Chief Commercial Officer and Executive Vice President, bought 29,000 shares on the same day at an average price of $7.85 per share, lifting his ownership to 82,442 shares. Board member Alexander David Greene bought 10,465 shares on Wednesday and 4,535 shares on Thursday at prices varying from $7.84 to $8.23 per share. Mr. Greene currently owns a total of 21,006 shares following these transactions. Last but not least, President and CEO James D. Reed snatched up 380 shares on Thursday at $7.92 apiece, which raised his stake to 16,046 shares.

USA Truck Inc. (NASDAQ:USAK), which provides truckload and logistics services to various industries, has seen its market capitalization plunge by 48% in the past year. The shares of the capacity solutions provider took a serious hit recently after the company released disappointing financial results for the fourth quarter. USA Truck reported operating revenue of $103.1 million, down from $118 million generated in the same period a year earlier. Additionally, the company reported a net loss of $3.8 million, compared to net income of $3.9 million for the final quarter of 2015. In May 2014, a pair of activist firms – Baker Street Capital Management and Stone House Capital Management – reached an agreement with the trucking firm, which gave them two board seats. Should USA Truck fail to achieve a turnaround in the foreseeable future, a new activist campaign could eventually emerge. Mark Cohen’s Stone House Capital had 835,000 shares of USA Truck Inc. (NASDAQ:USAK) in its portfolio at the end of the third quarter.

Board Member at Expanding Community Bank Buys Shares

One member of Bay Bancorp Inc. (NASDAQ:BYBK)’s board purchased a block of shares this week. Independent director Pierre Abushacra bought 15,000 shares on Wednesday at a price of $7.63 per share. Mr. Abushacra currently owns an aggregate of 26,603 shares after the recent purchase.

The savings and loan holding company for Bay Bank has seen the value of its shares advance by 12% since the beginning of the year. In early-July, Bay Bancorp Inc. (NASDAQ:BYBK) consummated its merger with Hopkins Bancorp Inc., the parent company of federal savings bank Hopkins Federal Savings Bank. The company’s net loan growth during 2016 was favorable, particularly after the completion of the Hopkins merger. Bay Bancorp reported net income of $1.75 million for 2016, compared to $1.93 million reported a year prior. The 2016-figure included one-time merger integration expenses, as well as a bargain purchase gain associated with the aforementioned merger. With the Hopkins merger, Bay Bank represents the fifth-largest community bank headquartered in the Baltimore region based on deposit market share. Emanuel J. Friedman’s EJF Capital owned exactly 1 million shares of Bay Bancorp Inc. (NASDAQ:BYBK) at the end of September.

On the final page of the article, we’ll discuss the insider selling observed at two companies.