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Corporate Insiders Are Excited About These 3 Stocks

We can now refocus our attention on Campus Crest Communities Inc. (NYSE:CCG), which has seen three different insiders purchase stock so far this week. President and Chief Investment Officer Aaron Scott Halfacre reported buying 10,000 shares on Tuesday at a weighted average price of $6.61, lifting his overall holdings to 166,250 shares. Director Curtis B. McWilliams snapped up 10,000 shares on the same day at prices in the range of $6.61-to-$6.64 per share. The Director currently holds exactly 17,000 shares. Raymond C. Mikulich, another Member of the company’s Board of Directors, acquired 18,913 shares on Monday and 10,000 shares on Tuesday at prices between $6.61 and $6.63, and currently owns 61,900 units of common stock.

In mid-October, the REIT announced a merger agreement with Harrison Street Real Estate Capital LLC, under which Harrison Street is set to purchase all shares of Campus Crest for approximately $7.02 per share. This sale price includes the net sale proceeds of roughly $0.12 per share from a separate sale of its ownership interest in its Evo Montreal joint venture. Thus, it might be the case that these insiders are confident in the success of the merger and believe they will benefit from the discrepancy between the current share price and sale price of the stock. Derek C. Schrier’s Indaba Capital Management was the largest shareholder of Campus Crest Communities Inc. (NYSE:CCG) within our database at the end of the third quarter, holding 5.93 million shares.

Stage Stores Inc. (NYSE:SSI) has seen six different insiders acquire stock in the past several days, so let’s lay out the most noteworthy purchases. To start with, President and Chief Executive Officer Michael L. Glazer bought a 20,000-share block on Friday at a weighted average cost of $6.14, winching up his stake to 402,994 shares. Chairman William J. Montgoris added 10,000 shares, which were acquired at a price of $6.25 per share to his position that now comprises 86,834 shares. Director Ralph P. Scozzafava also purchased 10,000 shares on Friday at a weighted average price of $6.08 and currently holds 34,987 shares. Elaine D. Crowley, another Director of Stage Stores, bought 10,000 shares at prices ranging from $6.83-to-$6.84, lifting up her position to 20,799 shares. Last but not least, Director Alan J. Barocas grabbed 7,500 shares on Monday at a weighted average price of $6.90 and currently owns a 60,894-share stake. This insider bullishness comes after the department store reported disappointing third quarter financial results, which sent the stock plummeting by more than 25% (read more details). The stock is down by 64% for the year, so these insiders are either attempting to put a concerted halt to the recent sell-off or are confident that they will obtain long-term gains from the beaten-down stock.  Steve Cohen’s Point72 Asset Management acquired a 210,100-share stake in Stage Stores Inc. (NYSE:SSI) during the September quarter.

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