Another stock that has been marked by large insider buying activity is PolyOne Corporation (NYSE:POL). Robert M. Patterson, who acts as the President and Chief Executive Officer at PolyOne Corporation, acquired 3,000 shares of the company at $33.45 per share. In the meantime, John Midea, who is the Senior Vice President, purchased 450 shares for $33.41 each. The shares of PolyOne Corporation have decreased by nearly 10% year-to-date, partly owning to a serious slump after the company announced its financial results for the second quarter of 2015. Even though PolyOne delivered adjusted earnings per share (EPS) that increased to an all-time quarterly high of $0.57, the market reacted very negatively to the company’s earnings announcement. Analysts anticipated adjusted earnings per share of $0.58 for the quarter, which might explain the significant drop in the company’s share price following the announcement. PolyOne posted revenue of $887 million for the second quarter, compared to $1.0 billion reported in the same quarter a year ago. It seems that the market overreacted to the company’s financial results announcement, so corporate insiders see the potential for profits from their investments. From the pool of over 700 hedge funds we observe, Israel Englander‘s Millennium Management is among the largest investors in PolyOne Corporation (NYSE:POL), owning 506,984 shares.
Lastly, another stock that corporate insiders have been loading up on is Computer Task Group Inc. (NASDAQ:CTG). Cliff Bleustein, CTG’s new President and Chief Executive Officer, purchased 26,645 shares for $7.03 each on July 29. The shares of Computer Task Group have dropped by 26% since the beginning of the current year, which might represent a great buying opportunity for bottom-fishing investors. The company recently announced its financial results for the fiscal second quarter of 2015 that ended on July 3, posting revenues of $94.74 million, down from $100.33 million reported in the same quarter a year ago. The company’s top-line figure has mainly been affected by unfavorable foreign currency exchange. CTG has also revised its guidance for the full year and tightened the projected annual revenue range from its previous guidance. However, the company expects higher annual diluted net income per share, reflecting the strong second quarter diluted net income per share of $0.03, which reached the top end of its previous estimate. Within our database, Chuck Royce’s Royce & Associates represents the largest investor in Computer Task Group Inc. (NASDAQ:CTG), holding 2.42 million shares.